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DJ30: move down the high position
2022-12-06
1181
Fundamental analysis:
The Dow Jones Index closed down 483.37 points, or 1.40%, at 33,946.51 points on December 5 (Monday). The U.S. ISM non-manufacturing PMI rose to 56.5 in November. The Fed still has a long way to go on the road to tightening the interest rate hike cycle. It is believed that the Fed will not cut interest rates in 2023.
Dow Jones DJ30 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum has fallen sharply, the short-term decline may continue, the market's short-term sentiment is good, the MACD index maintains shocks and goes down to the lower side of the 0 axis, and the RSI index is in a weak order below the 50 balance line;
Long-short turning point: 34041
Press: 34142, 34246
Support: 33896, 33794
Trading strategy: bearish below 34041, target 33896, 33794
Alternative strategy: Bullish above 34041, target 34142, 34246
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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