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DJ30: Low position wide amplitude vibration moves downward

2022-09-21
510
Fundamental analysis:

The Dow Jones Index closed down 312.60 points, or 1.01%, at 30707.08 on September 20 (Tuesday); After the US inflation data in August showed that prices continued to rise, the possibility of a soft landing dropped significantly. Even if it is assumed that inflation may still be reduced without an appropriate recession, the economic data and the reaction it causes also greatly increase the risk of excessive interest rate hikes by the Federal Reserve. The policy interest rate may eventually be as high as 5.00%, which will lead to economic recession in any case.


Dow Jones DJ30 - 4-hour K chart shows:




Technical analysis:


The 4-hour chart shows that the low position wide range shock trend continues, market bearish sentiment emerges, MACD indicators remain in the bearish area, and RSI indicators hover below the 50 equilibrium line;


Empty turning point: 30903


Pressing position: 31049, 31187


Support position: 30685, 30554


Trading strategy: sell below 30903, target 30685, 30554



Alternative strategy: bullish above 30903, target 31049, 31187

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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