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DJ30: low shock

Fundamental analysis:

The Dow Jones Index closed down 336.86 points, or 1.02%, at 32,817.05 points on February 24 (Friday); U.S. consumer spending rebounded sharply in January, income growth was strong, and inflation accelerated, which may intensify financial market expectations that the Federal Reserve may Concerns about continuing to raise interest rates over the summer.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum fluctuates at a low level, the market’s short-term sentiment emerges, the short-term decline is low-level, and the short-term trend continues to move downward.

Long-short turning point: 32881

Press: 32997, 33112
Support: 32731, 32629

Trading strategy: bearish below 32881, target 32731, 32629
Alternative strategy: Bullish above 32881, target 32997, 33112

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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