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DJ30: Shock down

2023-03-16
876
Fundamental analysis:

The Dow Jones index closed down 279.18 points, or 0.87%, at 31,876.22 points on March 15 (Wednesday); U.S. retail sales fell in February after surging last month, indicating that although consumer spending has maintained growth, it is still affected by high The inflation challenge. Retail sales fell in nine of the 13 retail categories last month, led by furniture and food and beverages.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term dynamics maintain a range of shocks and move down slowly, the short-term decline has not stopped, the market as a whole is in a short trend, the MACD indicator is in the short area, and the RSI indicator is hovering below the 50 balance line;

Resistance level: 32047 32198

Support level: 31716 31600

Trading strategy: bearish below 31903, target 31716 31600
Alternative strategy: call above 31903, target 32047 32198

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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