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DJ30: The bear fell sharply
2022-10-10
1114
Fundamental analysis:
The Dow Jones Index closed down 630.08 points, or 2.11%, at 29296.86 on October 7 (Friday); The US unemployment rate fell unexpectedly in September, and the employment data was slightly higher than expected, indicating that although the Federal Reserve tried to cool the employment market, the employment market remained tense.
Dow Jones DJ30 - 4-hour K chart shows:
Technical analysis:
The 4-hour chart shows that the momentum of short sellers has remained volatile and plummeted rapidly. The short-term decline has hit again, and the market short sellers mood has been shrouded. The MACD index has remained volatile and moved downward to the lower side of the 0 axis, and the RSI index has moved downward to the lower side of the 50 equilibrium line;
Empty turning point: 29410
Pressing: 29605, 29804
Support: 29148, 28964
Trading strategy: 29410 lower bearish, target 29148, 28964
Alternative strategy: bullish above 29410, target 29605, 29804
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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