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DJ30: low climb

Fundamental analysis:

The Dow Jones index closed up 409.09 points, or 1.24%, at 33421.23 points on Wednesday, May 17; the latest comments from Fed officials delayed the prospect of a rate cut. It is currently estimated that the possibility of the Fed keeping interest rates unchanged in June is close to 80%, and the possibility of cutting interest rates in September is only slightly more than 50%.

Dow Jones DJ30 - 4-hour K-line chart shows:

Brief technical analysis:

Looking at the 4-hour chart: the low-level bullish momentum continues to rise, short-term bullish sentiment is shrouded, the bullish momentum continues to move upward, the MACD indicator is in the short area and moves upward, and the RSI indicator is hovering weakly above the 50 balance line;

Resistance level: 33536 33619

Support level: 33346 33258

Trading strategy: Bullish above 33417, target 33536 33619
Alternative strategy: bearish below 33417, target 33346 33258

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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