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Dow: medium rail down

2022-06-30
1245
Fundamental analysis:

On Wednesday, June 29, the Dow Jones index closed up 82.32 points, or 0.27%, at 31029.31; Both the chairman of the Federal Reserve and the president of the European Central Bank doubt whether the low inflation environment before the outbreak can return. With the rise of interest rates, they have to find answers in the new environment.



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




Technical analysis:


According to the 4-hour chart, the power of high short positions fell rapidly, and they were in the middle and lower track of the Bollinger belt index channel. The Bollinger belt index continued to close. The MACD index remained weak in the long position and went down to hover around the 0 axis. The RSI index was in the narrow range under the 50 equilibrium line;


Long short turning point: 31085


Pressing position: 31302, 31553


Support position: 30720, 30523


Trading strategy: 31085 down bearish, target: 30720, 30523


Alternative strategy: bullish above 31085, target: 31302, 31553

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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