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DJ30: Low level wide amplitude oscillation moves up
2022-10-04
1126
Fundamental analysis:
The Dow Jones Index closed up 764.52 points, or 2.66%, at 29490.03 on October 3 (Monday); US Treasury yields stopped soaring. The recent selling pressure has dried up. The stock market has not fully digested the factors of recession. The non farm data released on Friday will give traders an opportunity to reassess the determination of the Federal Reserve to actively raise interest rates.
Dow Jones DJ30 - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that after the low position continued to fluctuate widely, the bulls waited for the opportunity to enter the market and pulled up. Short term bullish sentiment began to emerge, and the market bulls' momentum continued to rise. The MACD index remained in the short position and moved up, while the RSI index remained in the 50 balanced online weak position;
Empty turning point: 29495
Pressing position: 29790, 29978
Support position: 29318, 29135
Trading strategy: bullish above 29495, target 29790, 29978
Alternative strategy: 29495 bearish, target 29318, 29135
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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