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Dow: shock downward

2022-07-13
1205
Fundamental analysis:

On July 12 (Tuesday), the Dow Jones index closed down 188.82 points, or 0.61%, at 30985.02; The IMF predicts that the GDP growth rate of the United States this year and next will be 2.3% and 1.0% respectively, compared with 2.9% and 1.7% previously; The unemployment rate is expected to be 3.7% this year, up from 3.2% previously, and is expected to exceed 5% in 2024 and 2025.


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




Technical analysis:


According to the 4-hour chart, the short-term momentum maintained a wide range of shock downward, and there were signs of gradual amplification in the short-term amplitude space. The MACD index hovered below the 0 axis, and the RSI index was in a narrow range of consolidation below the 50 equilibrium line;


Long short turning point: 31089


Pressing position: 31283, 31460


Support position: 30756, 30551


Trading strategy: 31089 bearish below, targets 30756, 30551


Alternative strategy: bullish above 31089, targets 31283, 31460

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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