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Dj30: low step oscillating downward

2022-08-31
1043
Fundamental analysis:

The Dow Jones index closed down 308.25 points, or 0.96%, at 31790.74 on Tuesday, August 30; The rise of the consumer confidence index of the US Chamber of Commerce in August was consistent with the fall of oil prices and the rise of the consumer confidence index of the University of Michigan in August.



Dow Jones index dj30 - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the power of short positions is in a step like downward oscillation, the low-level narrow range consolidation and translation, and the market decline may continue. The MACD indicator is in the low-level weak consolidation of short positions, and the RSI indicator is in the narrow range of short positions;


Long and short turning point: 31850


Pressing position: 32019, 32198


Support position: 31589, 31402


Trading strategy: bearish below 31850, targets 31589 and 31402


Alternative strategy: bullish above 31850, targets 32019 and 32198

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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