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DJ30: move down low

2023-03-02
905
Fundamental analysis:

On March 1 (Wednesday), the Dow Jones index closed up 5.86 points, or 0.02%, to 32662.56 points; the ISM manufacturing price payment index in the United States recorded 51.3 in February, which was better than expected. Further flatten the spread between the 30-year and 5-year Treasury yields.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum of the market remains volatile and moves downward, the short-term decline may continue, the market as a whole is in a weak position, the MACD indicator is in the short-term area and the RSI indicator is hovering below the 50 balance line;

Long and short turning point: 32728

Press: 32821, 32926
Support: 32579, 32482

Trading strategy: bearish below 32728, target 32579, 32482
Alternative strategy: call above 32728, target 32821, 32926

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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