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Dow Jones Industrial Average: the high level fell sharply

2022-07-19
1156
Fundamental analysis:

The Dow Jones index closed down 216.51 points, or 0.69%, at 31071.75 on Monday, July 18; Record breaking high temperatures will continue for a week in the central United States and threaten Texas, which has become a hot weather bull's eye. High temperatures may push power demand to new heights.


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




Technical analysis:


Looking at the 4-hour chart: the bull momentum surged rapidly, and the high level fell sharply again after a short-term obstacle. The market was in a state of panic. The MACD index was in the bull region and maintained a concussion downward, and the RSI index was in a narrow range near the 50 equilibrium line;


Long short turning point: 31119


Pressing position: 31220, 31338


Support position: 30939, 30841


Trading strategy: down 31119, target 30939, 30841


Alternative strategies: bullish above 31119, goals 31220, 31338

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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