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DJ30: Move high position sorting down

2022-11-18
566
Fundamental analysis:

The Dow Jones Index closed down 7.38 points, or 0.02%, at 33546.45 on November 17 (Thursday); The number of Americans applying for unemployment benefits for the first time unexpectedly declined slightly and remained near the historical low, indicating the strong momentum of the labor market at a time when other economic sectors were cooling down. Although the Federal Reserve is actively slowing down economic growth to curb high inflation, employers are still hiring steadily.


Dow Jones DJ30 - 4-hour K chart shows:




Technical analysis:

The 4-hour chart shows that the high short-term narrow range shock has moved downward, and the market bearish sentiment has begun to emerge. The MACD index is in the long area and moves downward to the weak position around the 0 axis, while the RSI index is in the weak position near the 50 equilibrium line;

Empty turning point: 33638

Pressing: 33769, 33904

Support: 33424, 33297

Trading strategy: 33638 lower bearish, target 33424, 33297

Alternative strategy: bullish above 33638, target 33769, 33904

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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