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DJ30: Short Position Decline
2022-09-26
1209
Fundamental analysis:
The Dow Jones Index closed down 483.83 points, or 1.61%, at 29592.85 on September 23 (Friday); The output of manufacturing and service industries in the United States declined in September, but compared with that in August, the contraction of these two outputs slowed down. In particular, the service industry resumed moderate growth, easing some concerns about the current economic downturn.
Dow Jones DJ30 - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of short positions keeps moving downward, and there is no indicator of short-term decline. Short positions begin to emerge. The MACD indicator keeps moving downward in the short positions, and the RSI indicator stays low in the short positions;
Empty turning point: 29720
Pressing position: 29945, 30195
Support position: 29470, 29312
Trading strategy: bearish below 29720, target 29470, 29312
Alternative strategy: bullish above 29720, target 29945, 30195
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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