CM Trade

Download APP to receive bonus

GET

DJ30: Short head moves down rapidly

2022-09-14
1135
Fundamental analysis:


The Dow Jones Index closed down 1276.37 points, or 3.94%, at 31104.97 on September 13 (Tuesday); The US CPI rose 0.1% month on month in August, bringing problems to the Federal Reserve. Policymakers are powerless to cope with the rising prices, and raising interest rates has limited effect on slowing down food prices.



Dow Jones index dj30 - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the high-level short power is rapidly descending, the short-term decline may continue, and the overall short sentiment of the market is beginning to be shrouded. The MACD indicator is in the maintenance and consolidation of the long area and moves to the lower side of the 0 axis. The RSI indicator is in the consolidation of the short area below the 50 equilibrium line;


Long short turning point: 31262


Pressing position: 31420, 31591


Support position: 30942, 30774


Trading strategy: 31262 lower bearish, target 30942, 30774


Alternative strategy: bullish above 31262, target 31420, 31591

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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More