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DJ30: shock up

2022-12-28
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Fundamental analysis:
The Dow Jones index closed up 37.70 points, or 0.11%, at 33241.63 points on December 27 (Tuesday); U.S. wholesale inventory data for November: The increase in inventory is positive for GDP in the fourth quarter, but it is only a matter of time before the inventory reverses , adding downside risks to GDP in the first quarter of 2023. In addition, retailers continued to reduce inventories.

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



Brief technical analysis:
Looking at the 4-hour chart: the bulls are oscillating and rising, and the short-term top is blocked, and the market is still bullish. 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: 33317
Compression: 33545, 33696
Support: 33162, 33007
Trading strategy: Bullish above 33317, target 33545, 33696
Alternative strategy: bearish below 33317, target 33162, 33007

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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