DJ30: strong pull up

Fundamental analysis:

The Dow Jones Index closed up 528.58 points, or 1.58%, at 34005.04 points on December 12 (Monday); the market expects FOMC to raise interest rates by 50 basis points at the December interest rate meeting, raising the target range of the federal funds rate to 4.25 %-4.50%. In doing so, the Committee would ultimately shift its inflation-adjusted policy stance into restrictive territory. The FOMC is expected to signal that terminal interest rates may be higher than expected in September.

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

Brief technical analysis:

Looking at the 4-hour chart: the bullish momentum is rising strongly at a low level, short-term bullish sentiment emerges, the bulls in the market continue to rise, the MACD indicator is in the short area and moves up, and the RSI indicator is hovering weakly above the 50 balance line;

Long and short turning point: 33975

Press: 34092, 34163

Support: 33892, 33816

Trading strategy: Bullish above 33975, target 34092, 34163

Alternative strategy: bearish below 33975, target 33892, 33816