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DJ30: V-shaped pull up

2023-01-26
965
Fundamental analysis:

The Dow Jones index closed up 9.95 points, or 0.03%, at 33743.91 points on January 25 (Wednesday). Some investors closed their positions before the release of the fourth quarter GDP data of the United States, and the dollar index stabilized. Wall Street investors seem to have confidence in the Fed's success in curbing inflation, but the Fed keeps emphasizing that the process of fighting inflation is difficult and lengthy.

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



Brief technical analysis:

Looking at the 4-hour chart: In the short term, the V-shaped reversal pull-up trend is maintained, the market is still bullish, the short-term bullish momentum continues, the MACD indicator is weakly finishing near the 0 axis, and the RSI indicator is hovering weakly on the side of the 50 balance line;

Long-short turning point: 33767

Press: 33884, 33945
Support: 33698, 33633

Trading strategy: Bullish above 33767, target 33884, 33945
Alternative strategy: bearish below 33767, target 33698, 33633

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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