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Dow: strong pull up

2022-07-18
1198
Fundamental analysis:

The Dow Jones index closed up 655.85 points, or 2.14%, at 31286.02 on Friday, July 15; Former U.S. Treasury Secretary summers issued his severest criticism of the Fed's slow rate hike in his history, and pointed out that the Fed's forecast was still unrealistic.


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




Technical analysis:


According to the 4-hour chart, the low-level bulls are strongly pulling up, which is about to hit the high node in the early stage. The short-term pulling up trend may continue. The MACD index is in the short area, and the low level is maintained and moved up, and the RSI index is in the 50 balanced Online side;


Long short turning point: 31172


Pressing position: 31393, 31543


Support position: 31022, 30868


Trading strategy: bullish above 31172, targets 31393, 31543


Alternative strategy: bearish below 31172, goals 31022, 30868

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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