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Dj30: strong decline of high short positions
2022-08-23
1269
Fundamental analysis:
The Dow Jones index closed down 642.80 points, or 1.91%, at 33063.94 points on Monday, August 22; Investors were nervous about the Fed's seminar in Jackson Hole, Wyoming, later this week, where the Fed is expected to emphasize its strong commitment to curbing inflation.
Dow Jones index dj30 - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the power of high-level short positions fluctuated and fell strongly, and there was no sign of stopping the short-term decline. MACD index maintained a weak downward trend in the short area, and RSI index was in a narrow range of low positions in the short area;
Long and short turning point: 32164
Pressing position: 33301, 33461
Support position: 32955, 32833
Trading strategy: bearish below 32164, targets 32955 and 32833
Alternative strategy: bullish above 32164, targets 33301 and 33461
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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