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Dow: Continues to strengthen

2023-08-30
433
Fundamental analysis:

On Tuesday (August 29), the JOLTS job vacancies in July in the United States exceeded expectations and fell to the lowest level in more than two years. Consumer confidence in the Conference Board dropped significantly in August, all of which reduced the pressure on the Fed to raise interest rates. to 42%. U.S. stocks rose for three consecutive days to close at intraday highs, and the Dow rose 0.85%.

DJ30 four-hour chart



Brief technical analysis:

Looking at the 4-hour chart, the Dow has further broken through the 34700 line, and the MACD volume can be increased on the zero axis, and the top continues to look at 35000-35400.

Resistance level: 35000 35400
Support level: 34700 34400

Trading strategy: Bullish above 34700, target 35000 35400
Alternative strategy: bearish below 34700, target 34400 34200

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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