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DJ30: Shock down

2023-03-19
900
Fundamental analysis:

The Dow Jones Index closed down 387.66 points on March 17 (Friday), or 1.20%, to 31858.89 points; in the year since the interest rate hike began, the CPI dropped from 8.5% at that time to 6% now, and entered a decline trend, but still far from the Fed's 2% target.

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



Brief technical analysis:

Looking at the 4-hour chart: the short-term dynamics fluctuate downward, the short-term decline may continue, the market is shrouded in bearish sentiment, the MACD indicator is hovering around the 0 axis, and the RSI indicator is in a weak order near the 50 balance line;

Resistance level: 32249 32360

Support level: 31962 31858

Trading strategy: Bearish below 32133, target 31962 31858
Alternative strategy: call above 32133, target 32249 32360

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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