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US inflation accelerated to a 40 year high in May, and the Dow fell sharply
2022-06-13
837
Fundamental analysis:
The Dow Jones index closed down 879.80 points, or 2.73%, at 31392.66 points on Friday, June 10; The US stock market fell for the third consecutive day on Friday, and recorded the largest weekly decline since January. As inflation unexpectedly accelerated to a 40 year high in May, traders were forced to increase their bets that the Federal Reserve would raise interest rates more aggressively.
Dow Jones dj30 - 4-hour K-line chart display:
Technical comments: the short power continued the rapid decline near the brin zone index, and the low level reached the node near 31374 for consolidation. The short-term short power continued to decline. The brin zone index was in the opening trend, the MACD index was in the process of continuous downward movement in the short area, and the RSI index was in the process of continuous downward movement below the 50 equilibrium line;
Multi empty turning point: 31547
Pressing position: 31824, 32081
Support position: 31142, 30892
Trading strategy: 31547 bearish below, target 31142, 30892
Alternative strategy: bullish above 31547, target 31824, 32081
The above analysis is a personal point of view and is for reference only.
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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