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DJ30: move down low

Fundamental analysis:

The Dow Jones Index closed down 336.26 points, or 1.01%, at 33012.34 points on May 16 (Tuesday); U.S. retail sales growth in April was lower than expected, but the underlying trend was solid, suggesting that consumer spending may remain strong at the beginning of the second quarter , despite the growing risk of a recession this year.

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

Brief technical analysis:

Looking at the 4-hour chart: the short-term dynamics fluctuate downwards, and the short-term decline may continue. The market as a whole is constantly moving upwards with short-term momentum. The MACD indicator is in the short-selling area and slowly descending, and the RSI indicator is in the short-selling area.

Resistance level: 33203 33279

Support level: 33006 32936

Trading strategy: bearish below 33132, target 33006 32936
Alternative strategy: call above 33132, target 33203 33279

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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