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DJ30: high retracement
2023-05-02
809
Fundamental analysis:
On May 1 (Monday), the Dow Jones Index closed down 47.25 points, or 0.14%, to 34050.91 points;The Federal Open Market Committee (FOMC) will meet on May 2-3, and investors generally expect the Fed to have no choice but to continue raising interest rates by 25 basis points to 5.00%-5.25%.
Dow Jones DJ30 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: after the bullish momentum pulled up strongly, the high level reversed and moved down, the market’s bearish sentiment began to emerge, and there was a trend of continuing to move downward in the short term.
Resistance: 34203 34274
Support level: 34033 33974
Trading strategy: bearish below 34142, target 34033 33974
Alternative strategy: call above 34142, target 34203 34274
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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