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DJ30: Low Short Position Weak Move Down

Fundamental analysis:

The Dow Jones Index closed down 173.07 points, or 0.56%, at 30962.02 on September 15 (Thursday); The number of unemployment insurance applications in the United States fell for the fifth consecutive week, indicating that the demand for workers remained strong despite the uncertainty of the economic outlook. The number of people applying for unemployment benefits for the first time rose slightly to 1.4 million, still a historical low.

Dow Jones DJ30 - 4-hour K chart shows:

Technical analysis:

The 4-hour chart shows that the power of short sellers drops rapidly, the low position is weak in a narrow range, and the short-term decline trend continues to move downward. The MACD indicator remains in the short position area and the RSI indicator remains weak in the short position area;

Empty turning point: 31090

Pressing position: 31266, 31442

Support position: 30867, 30711

Trading strategy: sell below 31090, target 30867, 30711

Alternative strategy: bullish above 31090, target 31266, 31442

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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