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Dow: sorting up
2022-07-12
1251
Fundamental analysis:
The Dow Jones index closed down 162.63 points, or 0.52%, at 31175.52 points on Monday, July 11; Investors worried about the prospect of a global recession turned to the dollar, which rose more than 2 per cent this month. Economists expect US inflation to rise 8.8% year-on-year in June, reaching a 40 year high.
Dow Jones dj30 - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bulls' momentum maintained a volatile rise, and the Bulls continued to move upward after the short-term high retreated. The MACD index hovered on the upper side of the 0 axis, and the RSI index was in a narrow range near the 50 equilibrium line;
Long short turning point: 31089
Pressing position: 31460, 31704
Support position: 30838, 30552
Trading strategy: bullish above 31089, targets 31460, 31704
Alternative strategy: down below 31089, targets 30838, 30552
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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