CM Trade

Download APP to receive bonus

GET

Dow: continue to rise slowly

2022-07-11
1151
Fundamental analysis:

The Dow Jones index closed down 45.35 points, or 0.14%, at 31339.20 on Friday, July 8; The U.S. non farm payrolls data in June exceeded expectations, and the labor market continued to be strong, weakening the argument that the U.S. economy may have fallen into recession and strengthening the Fed's expectation of raising interest rates.


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



Technical analysis:


According to the 4-hour chart, the bull dynamics continued to rise in shock, the high level briefly retreated, the MACD index hovered on the upper side of the 0 axis, and the RSI index was at 50, balanced and narrow on the online side;


Long short turning point: 31189


Pressing position: 31568, 31790


Support position: 30949, 30703


Trading strategy: bullish above 31189, targets 31568, 31790


Alternative strategy: bearish below 31189, target 30949, 30703


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.

Free Access
Daily Trading Strategy
Download Now

CM Trade Mobile Application

Economics Calendar

More