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Dj30: high short shock downward

2022-08-03
1179
Fundamental analysis:

The Dow Jones index closed down 401.64 points, or 1.22%, at 32396.76 points on Tuesday, August 2; US Treasury yields soared as policymakers said they had not ended their efforts to fight inflation, prompting traders to reduce their bets on interest rate cuts next year.


Dow Jones dj30 - 4-hour K-line chart shows:




Technical analysis:


Looking at the 4-hour chart: the high short power remained volatile and slowly declined, and the market short power began to move downward. In the short term, it may maintain the consolidation and retreat trend, the MACD index was in the high downward movement in the long region, and the RSI index was in the weak hovering near the 50 equilibrium line;


Long short turning point: 32534


Pressing position: 32721, 32938


Support position: 32268, 32075


Trading strategy: bearish below 32534, targets 32268, 32075


Alternative strategy: bullish above 32534, target 32721, 32938

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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