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DJ30: Tidy down

2023-02-21
916
Fundamental analysis:

The Dow Jones Industrial Average closed up 129.84 points, or 0.39%, at 33,826.69 points on the previous trading day. The market expects the upper end of the target range for the federal funds rate to increase by about 40BP to 5.25%. The expected arrival time point has also changed from June to July.

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



Brief technical analysis:

Looking at the 4-hour chart: The short-term momentum maintains a narrow range of consolidation and slows down, the market’s short-term sentiment slowly emerges, and the short-term decline may continue. The MACD indicator is in the short-term area and the RSI indicator is hovering weakly below the 50 balance line;

Long-short turning point: 33801

Press: 33860, 33921
Support: 33719, 33656

Trading strategy: bearish below 33801, target 33719, 33656
Alternative strategy: Bullish above 33801, target 33860, 33921

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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