DJ30: Short term wide range finishing
2022-10-13
1142
Fundamental analysis:
The Dow Jones Index closed down 28.67 points, or 0.10%, at 29210.52 on October 12 (Wednesday); The US producer price index rose more than expected in September, as the cost of services and goods rose strongly, suggesting that inflation may remain at an alarming high for some time.
Dow Jones DJ30 - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the short-term amplitude space gradually narrows after the high level rapid shock descends, the MACD index hovers under the 0 axis, and the RSI index narrows under the 50 equilibrium line;
Empty turning point: 29358
Pressing: 29551, 29721
Support: 29080, 28914
Trading strategy: 29358 lower bearish, target 29080, 28914
Alternative strategy: bullish above 29358, target 29551, 29721
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.