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DJ30: wide oscillation

2023-01-05
1001
Fundamental analysis:
The Dow Jones index closed up 133.40 points, or 0.40%, at 33269.77 points on January 4 (Wednesday); none of the Fed participants expected that it would be appropriate to start cutting interest rates in 2023. Participants generally agreed that a restrictive policy stance needs to be maintained until the latest data provide confidence that inflation is on a sustained decline to 2%, which may take some time.
Dow Jones DJ30 - 4-hour K-line chart shows:



Brief technical analysis:
Looking at the 4-hour chart: the short-term entanglement range fluctuates in a wide range, the market as a whole is in a range consolidation, and there is no sign of breaking through this range node in the short term, the MACD indicator is hovering around the 0 axis, and the RSI indicator is in a weak consolidation near the 50 balance line;
Long and short turning point: 33313
Compression: 33528, 33655
Support: 33188, 33066
Trading strategy: Bullish above 33313, target 33528, 33655
Alternative strategy: bearish below 33313, target 33188, 33066

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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