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Dj30: Bull high shock pullback
2022-08-18
1291
Fundamental analysis:
The Dow Jones index closed down 171.69 points, or 0.50%, at 33980.32 on Wednesday, August 17; The staff of the Federal Reserve discussed the difference between the rate of return of the money market and the rate of return of bank deposits, and pointed out that the rate of return of the money fund is "much higher" than the bank interest rate, which will attract funds to flow into the money market.
Dow Jones index dj30 - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the Bulls' momentum kept rising, the short-term highs retreated when encountering obstacles, the market bears began to wait for opportunities to enter, the MACD index was in the consolidation and retreat of the Bulls' region, and the RSI index was in the 50 equilibrium online weak consolidation;
Long and short turning point: 34025
Pressing position: 34194, 34335
Support position: 33846, 33716
Trading strategy: bearish below 34025, target 33846, 33716
Alternative strategy: bullish above 34025, targets 34194 and 34335
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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