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DJ30: Move down to organize

2023-05-10
767
Fundamental analysis:

On May 9 (Tuesday), the Dow Jones index closed down 56.55 points, or 0.17%, to 33562.14 points; the federal funds rate futures showed that the interest rate by the end of the year was about 4.4%. It is doubtful that inflation data will be able to shake this pricing. Markets expect headline U.S. inflation to remain at 5% in April, with core inflation falling slightly to 5.5%. Inflation remains well above the Fed's target level.

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



Brief technical analysis:

Looking at the 4-hour chart: The short-term momentum maintains a downward movement and then sorts out, the market's short-term sentiment appears, and there are signs of continued downward trend in the short term. The MACD indicator is weakly hovering around the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;

Resistance level: 33775 33864

Support level: 33545 33454

Trading strategy: bearish below 33669, target 33545 33454
Alternative strategy: call above 33669, target 33775 33864

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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