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DJ30: Short position plummets
2022-10-17
1140
Fundamental analysis:
The Dow Jones index closed down 398.88 points, or 1.33%, at 29639.84 on October 14 (Friday); Retail sales in the United States were sluggish last month, indicating that consumers became more cautious in purchasing non essential goods in the worst inflationary environment in decades.
Dow Jones DJ30 - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of high short positions has fallen rapidly, the market short positions are in a good mood, and the short-term decline may continue. The MACD indicator hovers in a weak position above the 0 axis, and the RSI indicator is in a narrow range near the 50 equilibrium line;
Empty turning point: 29737
Pressing: 29892, 30034
Support: 29565, 29423
Trading strategy: 29737 bearish, target 29565, 29423
Alternative strategy: bullish above 29737, target 29892, 30034
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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