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DJ30: wide oscillation
2023-05-16
772
Fundamental analysis:
The Dow Jones Index closed up 49.78 points, or 0.15%, at 33,350.40 points on Monday, May 15. US President Joe Biden and congressional Republicans entered a critical week of debt ceiling negotiations, and the two sides faced deep partisan differences. Biden said he expected to meet with congressional leaders on Tuesday (May 16) and was optimistic about reaching an agreement on raising the U.S. $31.4 trillion borrowing limit.
Dow Jones DJ30 - 4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the market maintains a wide range of shocks and moves downward, the short-term decline may continue, the market as a whole is in a bearish trend, the MACD indicator is in the bearish area, and the RSI indicator is hovering weakly below the 50 balance line;
Resistance level: 33481 33565
Support level: 33262 33183
Trading strategy: bearish below 33398, target 33262 33183
Alternative strategy: call above 33398, target 33481 33565
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