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DJ30: low down

2023-03-10
902
Fundamental analysis:

The Dow Jones Index closed down 542.35 points, or 1.65%, at 32,256.05 points on March 9 (Thursday). The number of initial jobless claims in the United States exceeded expectations last week, but the basic trend still points to a tight job market. The number of initial jobless claims has been below 200,000 for seven consecutive weeks, showing that the high-profile layoffs in the technology industry have not had a substantial impact on the labor market.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-selling momentum fell strongly at a low level, the overall downward trend of the market remains, the MACD indicator is in the short-selling area and continues to move down, and the RSI indicator is in the short-selling area and fluctuates downward;

Resistance level: 32391 32491

Support level: 32168 32073

Trading strategy: bearish below 32292, target 32168 32073
Alternative strategy: call above 32292, target 32391 32491

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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