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DJ30: Low position multi head rapid lifting

Fundamental analysis:

The Dow Jones Index closed up 197.26 points, or 0.64%, at 31019.68 on September 19 (Monday); Goldman Sachs lowered its estimate of U.S. GDP in 2023 because the Federal Reserve will adopt a more active tightening monetary policy in the rest of this year, and believes that this will push the unemployment rate higher than previously expected.

Dow Jones DJ30 - 4-hour K chart shows:

Technical analysis:

The 4-hour chart shows that the bearish momentum has maintained its downward trend, and the low position has been supported to rise rapidly. Short term bullish sentiment has begun to emerge. The MACD indicator is in the bearish area and maintains its upward movement, while the RSI indicator is in the weak position near the 50 equilibrium line;

Empty turning point: 31106

Pressing position: 31326, 31489

Support position: 30962, 30810

Trading strategy: 31106 upside bullish, target 31326, 31489

Alternative strategy: 31106 lower bearish, target 30962, 30810

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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