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Dow: weak shocks move up

2022-07-08
1231
Fundamental analysis:

The Dow Jones index closed up 341.67 points, or 1.10%, at 31379.35 points on Thursday, July 7; Goldman Sachs economists sharply lowered the U.S. GDP forecast from April to June to a year-on-year growth of 0.7%, far lower than the bank's latest forecast of 1.9%.



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




Technical analysis:


According to the 4-hour chart, the upper rail range in the Bollinger belt index channel continues to fluctuate and rise, the Bollinger belt index continues to open its mouth slowly, the MACD index hovers on the upper side of the 0 axis, and the RSI index is out of 50, which is balanced and sorted out in a narrow range on the online side;


Long short turning point: 31189


Pressing position: 31568, 31790


Support position: 30949, 30703


Trading strategy: bullish above 31189, targets 31568, 31790


Alternative strategy: bearish below 31189, target 30949, 30703

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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