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DJ30: low shock

Fundamental analysis:

On February 23 (Thursday), the Dow Jones index closed up 111.19 points, or 0.34%, to 33156.28 points; the growth rate of the US economy slowed down slightly, mainly because consumers cut spending. Consumer spending, the main engine of the economy, grew at an annual rate of 1.4% instead of the originally reported 2.1%.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term lows are fluctuating within a narrow range, and the market’s bullish sentiment has begun to emerge. In the short term, there are signs of continued reversal and upward movement. The MACD indicator is in the short-term area and maintains consolidation, and the RSI indicator is hovering weakly below the 50 balance line;

Long-short turning point: 33136

Press: 33263, 33355
Support: 33039, 32946

Trading strategy: Bullish above 33136, target 33263, 33355
Alternative strategy: bearish below 33136, target 33039, 32946

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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