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DJ30: low down

2023-02-22
899
Fundamental analysis:

On February 21 (Tuesday), the Dow Jones Index closed down 696.31 points, or 2.06%, to 33130.38 points; the initial value of Markit manufacturing PMI in the United States in February was 47.8, expected to be 47.1, and the previous value was 46.9. The initial value of the service industry PMI hit 8 months The initial value of the comprehensive PMI hit a new high in 8 months.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum has fallen sharply, the short-term decline has not stopped, the market's bearish sentiment has emerged, the MACD indicator is in the bearish zone and moves down rapidly, and the RSI indicator is in the bearish zone and continues to move down;

Long-short turning point: 33227

Press: 33303, 33375
Support: 33106, 33024

Trading strategy: bearish below 33227, target 33106, 33024
Alternative strategy: Bullish above 33227, target 33303, 33375

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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