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DJ30: shock retracement

2023-02-03
944
Fundamental analysis:

The Dow Jones Index closed down 39.22 points, or 0.12%, at 34053.74 points on February 2 (Thursday); the number of initial jobless claims in the United States in the week to January 28 was 183,000, expected to be 200,000, and the previous value was 186,000 . The number of Americans filing new claims for jobless benefits fell for the fourth time in five weeks, underscoring broad resilience in the labor market that could keep inflation high.

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



Brief technical analysis:

Looking at the 4-hour chart: the high-level short momentum maintains shocks and retreats, the market bearish sentiment begins to emerge, the short-term decline may continue, the MACD indicator is hovering weakly on the upper side of the 0 axis, and the RSI indicator is weakly finishing near the 50 balance line;

Long and short turning point: 34133

Suppression: 34224, 34297
Support: 34026, 33950

Trading strategy: bearish below 34133, target 34026, 33950
Alternative strategy: call above 34133, target 34224, 34297

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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