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DJ30: pull up low

2023-02-19
1108
Fundamental analysis:

The Dow Jones Industrial Average closed up 129.84 points, or 0.39%, to 33826.69 points. This week, it fell 0.13%, falling for three consecutive weeks. Among the Conference Board's leading indicators for January, manufacturing new orders, consumer expectations for business conditions and deteriorating credit conditions offset strengths in the labor market and stock prices, resulting in a decline in the index for the month.

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



Brief technical analysis:

Looking at the 4-hour chart: the low-level bulls are pulling up strongly, short-term bullish sentiment is beginning to emerge, the market bulls continue to move up, the MACD indicator is in the bearish area and fluctuates upward, and the RSI indicator is hovering weakly near the 50 balance line;

Long-short turning point: 33835

Suppression: 33929, 33988
Support: 33770, 33705

Trading strategy: Bullish above 33835, target 33929, 33988
Alternative strategy: bearish below 33835, target 33770, 33705

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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