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DJ30: low shock

2022-12-21
1073
Fundamental analysis:
The Dow Jones index closed up 92.47 points, or 0.28%, at 32,850.01 points on December 20 (Tuesday); the economic data in the United States is also deteriorating, and the Fed may overuse its restrictive measures, so next year it will have to cut key interest rates sharply again , which would be detrimental to the dollar. In the run-up to Christmas, there is less and less liquidity in the market. Things could be even tougher for U.S. stocks in the coming weeks.

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



Brief technical analysis:
Looking at the 4-hour chart: the low position remains volatile in the short term, and the bulls have signs of waiting for an opportunity to enter the market. The MACD indicator is in the bearish area and moves upward slowly, and the RSI indicator is hovering weakly below the 50 balance line;
Long-short turning point: 33032
Suppression: 33258, 33413
Support: 32889, 32738
Trading strategy: Bullish above 33032, target 33258, 33413
Alternative strategy: bearish below 33032, target 32889, 32738

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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