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DJ30: Narrow shock

2023-02-07
1011
Fundamental analysis:

The Dow Jones Index closed down 36.38 points, or 0.11%, at 33889.63 points on February 6 (Monday); U.S. Treasury Secretary Yellen: Our economy is strong and resilient. When the unemployment rate falls to its lowest level in 53 years, there is no recession. Confidence that the US will find a way to substantially reduce inflation and maintain a strong economy.

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



Brief technical analysis:

The 4-hour chart: bulls move up in short-term consolidation, market sentiment begins to weaken, bulls wait for an opportunity to move up, but are still in a wide range of shocks, MACD indicator hovers around the 0 axis, and RSI indicator is weak near the 50 balance line tidy;

Long and short turning point: 33941

Press: 34015, 34089
Support: 33833, 33751

Trading strategy: bearish below 33941, target 33833, 33751
Alternative strategy: Bullish above 33941, target 34015, 34089

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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