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DJ30: Shorts fall sharply
2022-12-07
1157
Fundamental analysis:
The Dow Jones Index closed down 351.02 points, or 1.03%, at 33,596.08 points on December 6 (Tuesday). The U.S. trade deficit expanded significantly in October, as global demand slowed and a stronger dollar suppressed exports. That's the result of the Fed's fastest cycle of rate hikes since the 1980s to fight inflation.
Dow Jones DJ30 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term dynamics fluctuate downward in a stepwise manner, and the short-term decline may continue. The overall short position in the market is good. The MACD indicator is at a low level in the short-selling area and continues to decline, and the RSI indicator is in the short-selling area to maintain consolidation;
Long-short turning point: 33666
Suppression: 33764, 33868
Support: 33518, 33417
Trading strategy: bearish below 33666, target 33518, 33417
Alternative strategy: call above 33666, target 33764, 33868
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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