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Dow Jones Industrial Average: interval shock retreat
2022-07-06
1098
Fundamental analysis:
On July 5 (Tuesday), the Dow Jones index closed down 129.81 points, or 0.42%, at 30967.45; After the holiday, the U.S. stock market fell sharply, and the fear of economic recession shrouded the market. U.S. consumer prices are far from peaking. Inflation soared to 8.6% in May. There is little room for the Federal Reserve to slow monetary tightening.
Dow Jones dj30 - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, it is entangled in the wide vibration in the Bollinger belt index channel in the short term, during which the nodes of the upper and lower tracks are spied back and forth for many times. The Bollinger belt index is in the trend of consolidation and translation, the MACD index is weak around the 0 axis, and the RSI index is in the narrow consolidation near the 50 equilibrium line;
Long and short turning point: 30952
Pressing position: 31302, 31568
Support position: 30703, 30482
Trading strategy: down 30952, targets 30703, 30482
Alternative strategy: 30952 bullish above, targets 31302, 31568
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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