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DJ30: Shock down

2023-03-14
911
Fundamental analysis:

The Dow Jones index closed down 90.59 points, or 0.28%, at 31819.05 points on March 13 (Monday). The Fed interest rate swaps show that the most likely scenario is that the Fed will not raise interest rates. Traders believe that the Fed will not raise interest rates in March. There is a 54% chance of a change, and a 46% chance of a 25 basis point hike.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term dynamics remain volatile and move downward, the short-term decline may continue, the market as a whole is in a weak position, the MACD indicator is in the low position of the short-selling area, and the RSI indicator is hovering weakly below the 50 balance line;

Resistance level: 32104 32241

Support level: 31773 31667

Trading strategy: bearish below 31967, target 31773 31667
Alternative strategy: call above 31967, target 32104 32241

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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