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Dow Jones Industrial Average: continuous fluctuation and decline

2022-07-14
1200
Fundamental analysis:

The Dow Jones index closed down 209.79 points, or 0.68%, at 30771.54 on Wednesday, July 13; Inflation in the United States is intensifying. The federal funds futures market quickly priced, and the probability of the Federal Reserve raising interest rates by 100 basis points was expected to be 23%. The CPI energy index rose 7.5% in the month, accounting for nearly half of the total increase.


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




Technical analysis:


According to the 4-hour chart, the short-term momentum of the market is good, and there is no sign of stopping the short-term decline. The early low is close at hand, and the break is imminent. The MACD index is in the short area to maintain a weak consolidation, and the RSI index is under the 50 equilibrium line and continues to hover;


Long short turning point: 30816


Pressing position: 31036, 31283


Support position: 30501, 30320


Trading strategy: 30816 bearish below, targets 30501, 30320


Alternative strategy: bullish above 30816, goals 31036, 31283

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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