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DJ30: low sharp drop
2023-05-24
752
Fundamental analysis:
On May 23 (Tuesday), the Dow Jones Index closed down 231.01 points, or 0.69%, to 33055.57 points; U.S. inflation will continue to remain high in 2023 and 2024. Inflation will not fall to the Fed's target until 2025 or later. The "excessive monetary tightening" caused by the Fed's interest rate hike poses the biggest threat to the US economy.
Dow Jones DJ30 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term strength has fallen sharply, and the short-term decline may continue. The overall market is in a continuous downward trend of bearish sentiment. The MACD indicator is in the bearish area and maintains a downward shock. The RSI indicator is in the short-term area below the 50 balance line;
Resistance level: 32235 32297
Support level: 33074 33008
Trading strategy: bearish below 33173, target 33074 33008
Alternative strategy: call above 33173, target 32235 32297
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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