Dow: down after rebound

The Dow Jones index closed down 142.78 points, or 0.46%, at 30630.01 on Thursday, July 14; Biden will fly to Saudi Arabia on Friday (July 15). At that time, he will call on oil producing countries in the Middle East, including Saudi Arabia, to accelerate oil production and alleviate and offset the market chaos caused by Russia's sanctions. However, given that the energy utilization rate of most members of the organization of Petroleum Exporting Countries (OPEC) is close to the limit, it is difficult for Biden to achieve his goal.

According to the 4-hour chart, the momentum of short positions remained volatile, and the downward trend continued. The low position broke through the front and bottom and then reversed and pulled up, but the downward trend remained the same. The MACD index was in the short position and maintained the consolidation and translation, and the RSI index was below the 50 equilibrium line;

Long short turning point: 30746

Pressing position: 30946, 31143

Support position: 30428, 30228

Trading strategy: 30746 bearish below, targets 30428, 30228

Alternative strategy: bullish above 30746, target 30946, 31143