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DJ30: high retracement

2022-12-02
1183
Fundamental analysis:
The Dow Jones index closed down 194.69 points, or 0.56%, at 34395.08 points on December 1 (Thursday); the number of people applying for unemployment benefits in the United States fell, while the number of people applying for unemployment benefits rose to the highest level since February, indicating a gradual cooling Americans who lose their jobs have a harder time finding new ones in the labor market.

Dow Jones DJ30 - 4-hour K-line chart shows:



Brief technical analysis:
Looking at the 4-hour chart: high short-term dynamics fluctuate downward, short-term short-term sentiment begins to enter the market, the market as a whole is in a volatile downward trend, MACD is in the bullish zone, and the RSI indicator is hovering weakly above the 50 balance line;
Long and short turning point: 34427
Press: 34520, 34607
Support: 34306, 34219
Trading strategy: bearish below 34427, target 34306, 34219
Alternative strategy: call above 34427, target 34520, 34607

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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