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DJ30: low recovery

2023-03-21
882
Fundamental analysis:

The Dow Jones Index closed up 382.66 points, or 1.20%, at 32244.64 points on March 20 (Monday); the New York Community Bank stated in a statement that, according to the agreement reached with the Federal Deposit Insurance Corporation (FDIC), the bank acquired Signature Bank Co. Assets of US$38 billion will also assume liabilities of about US$36 billion.

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



Brief technical analysis:

Looking at the 4-hour chart: the low-level bullish momentum has reversed strongly and moved up, short-term bullish sentiment has begun to emerge, and the bullish momentum is constantly moving upwards. The MACD indicator is hovering above the 0 axis, and the RSI indicator is on the side of the 50 balance line.

Resistance level: 32609 32736

Support level: 32303 32180

Trading strategy: Bullish above 32406, target 32609 32736
Alternative strategy: bearish below 32406, target 32303 32180

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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