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DJ30: Sharp fall of low short

2022-09-22
1191
Fundamental analysis:

The Dow Jones Index closed down 522.52 points, or 1.70%, at 30183.71 on September 21 (Wednesday); The Federal Reserve raised the target range of the federal funds interest rate by 75 basis points to 3.00% - 3.25%, and hinted in its latest forecast that it would continue to raise interest rates significantly.




Dow Jones DJ30 - 4-hour K chart shows:




Technical analysis:


The 4-hour chart shows that the bearish momentum remains weak and the consolidation is slow to decline. The short-term market bearish sentiment is shrouded and plummets rapidly. The MACD indicator is in the bearish area and the consolidation is maintained to move downward, while the RSI indicator is in the bearish area below the 50 equilibrium line;


Empty turning point: 30318


Pressing position: 30466, 30640


Support position: 30061, 29908


Trading strategy: 30318 downside bearish, target 30061, 29908


Alternative strategy: bullish above 30318, target 30466, 30640

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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