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DJ30: Shock down
2023-06-01
730
Fundamental analysis:
The Dow Jones Index closed down 131.88 points, or 0.40%, at 32,910.90 points on May 31 (Wednesday). The market expects the Fed to keep interest rates high for longer than previously expected. If the labor market and consumer price data in May continue to be unexpectedly strong, the Fed will have no doubts to raise interest rates again in June.
Dow Jones DJ30 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term momentum remains volatile and moves downward, and the short-term decline may continue. The market as a whole is in a continuous downward trend of short-term shocks. The MACD indicator is weakly finishing below the 0 axis, and the RSI indicator is hovering weakly below the 50 balance line;
Resistance level: 33033 33111
Support level: 32853 32787
Trading strategy: Bearish below 32965, target 32853 32787
Alternative strategy: call above 32965, target 33033 33111
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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