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Dow: high weak slow down
2022-07-27
1181
Fundamental analysis:
The Dow Jones index closed down 228.66 points, or 0.71%, at 31761.38 points on Tuesday, July 26; The market is generally expected that the Federal Reserve will raise the federal funds rate target by 75 basis points to the range of 2.25% - 2.5%. The Fed, which has stumbled in predicting inflation, is likely not to want to give the market too much guidance on how high interest rates need to be in order to curb inflation.
Dow Jones dj30 - 4-hour K-line chart shows:
Technical analysis:
Looking at the 4-hour chart: in the short term, it maintained a high level and a narrow range of consolidation, and the market short sentiment began to work. The MACD index was in the long region, and it maintained a weak downward consolidation, and the MACD index hovered around the 50 equilibrium line;
Long short turning point: 31862
Pressing position: 32024, 32165
Support position: 31686, 31561
Trading strategy: 31862 bearish below, target 31686, 31561
Alternative strategy: bullish above 31862, targets 32024, 32165
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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