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DJ30: low shock

2023-05-26
742
Fundamental analysis:

The Dow Jones Index closed down 35.20 points, or 0.11%, at 32,764.72 points on May 25 (Thursday); the Fed’s June policy outlook will still depend on data and events, and tightening credit conditions will indirectly help the Fed complete its work, which seems unnecessary further hikes. But it must be admitted that many at the Fed want to see clear evidence that inflation is destined to return to 2%.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term dynamics remain volatile and downward, and the low-level short-term fluctuations are within a narrow range. The market is shrouded in bearish sentiment.

Resistance level: 32909 32985

Support level: 32727 32660

Trading strategy: bearish below 32836, target 32727 32660
Alternative strategy: call above 32836, target 32909 32985

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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