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DJ30: High falling

2022-11-03
1270
Fundamental analysis:

The Dow Jones Index closed down 506.43 points, or 1.55%, at 32146.77 on November 2 (Wednesday); The Federal Reserve announced its latest interest rate resolution for November. The Federal Reserve raised interest rates by 75 basis points to 3.75-4.00% as scheduled, in line with expectations.


Dow Jones DJ30 - 4-hour K chart shows:




Technical analysis:


The 4-hour chart shows that the high level remains narrow and then rapidly declines. The short-term decline may continue. Short positions emerge in the market. The MACD index is in a long area and moves downward to hover near the 0 axis. The RSI index is in a weak position under the 50 equilibrium line;


Empty turning point: 32,294


Pressing: 32590, 32886


Support: 31903, 31655


Trading strategy: 32294 lower bearish, target 31903, 31655


Alternative strategy: 32294 upside bullish, target 32590, 32886

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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