Initial Jobless Claims Fall, DJ30 Rebounds Strongly
U.S. Economic Data Performance Strongly, Trends DJ30 Rebounds.
Currently showing in a rebound trend, investors are suggesting to trade with a buy order in a low position, trade with the price around 37790, stop loss on 34230, take profit on 34800.
Recently, the DJ30 rally has been hindered by the problems in Eastern Europe, especially Russia’s sanction countermeasures against Western countries. But yesterday’s strong showing of U.S. jobless claims was the lowest since 1969, has brought buying back into the market. Although U.S. and NATO countries are preparing for a possible attack by Russia and strengthening the defense line on the eastern side of NATO, unless the war has the possibility of further expansion and spread to other countries, DJ30 will be on the short-term basis as risk appetite recovers. The trend will be beneficial to a bullish market.
In the daily K-line chart, 5MA goes flat and 20MA up, the sub-indicator KD tends to be bull-sided. In the 4-hour K-line chart, 5MA cross over 20MA, KD is biased towards the bullish side. In the 60minutes K-line chart, 5MA bend down and 20MA up, KD is biased towards the bearish side. Both of the 1hour and 4hours K-line charts show a rebounding trend, possibility to attack up again.
(The above remarks represent personal views and do not represent the platform’s position. Opinions are for reference only)