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DJ30: Step down

2023-05-14
816
Fundamental analysis:

The Dow Jones Index closed down 8.89 points, or 0.03%, at 33300.62 points on May 12 (Friday); U.S. Treasury Secretary Yellen said that the exact date when the Treasury Department will run out of cash to repay U.S. debt is still uncertain, but She will keep Congress updated on changes to that date, which could be as early as June 1.

Dow Jones DJ30 - 4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: The short-term momentum is moving downward in a stepwise shock, and the short-term or continuation of the downward trend, the market's short-term sentiment continues, the MACD indicator is at the lower side of the 0 axis and slowly descending, and the RSI indicator is in the short-selling area;

Resistance level: 33481 33565

Support level: 33262 33183

Trading strategy: bearish below 33398, target 33262 33183
Alternative strategy: call above 33398, target 33481 33565

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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