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DJ30: low shock

2023-01-03
1062
Fundamental analysis:
The Dow Jones Index closed down 73.55 points, or 0.22%, at 33147.25 points on December 30 (Friday); U.S. stocks closed slightly lower on the last trading day of 2022. The Dow Jones Industrial Average is down 8.78% for the year, and the dollar has pared gains as investors look for signs that the Fed's rate hike cycle may be over. The Fed has raised interest rates by a cumulative 425 basis points since March in an attempt to rein in rising inflation.

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



Brief technical analysis:
Looking at the 4-hour chart: the short-term entanglement is low and volatile, the market as a whole is in a weak position, and the bearish sentiment may continue for several days again, the MACD indicator is weakly hovering below the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;
Long and short turning point: 33363
Press: 33513, 33655
Support: 33121, 32980
Trading strategy: bearish below 33363, target 33121, 32980
Alternative strategy: Bullish above 33363, target 33513, 33655

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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