Dow: Low rebound
Basic face analysis:
On Monday (August 21), the market waited for the Jackson Hall Annual Meeting of Powell on Friday. The three major indexes of the US stocks rose and declined, and the Dow fell 0.11%. The Fed Chairman Powell this Friday will speak at the Jackson Hall Global Bank Annual Conference. The market is concerned that Powell's speech will exacerbate the recent sharp rise in US debt yields and then suppress US stocks.
DJ30 four -hour chart
Looking at the 4-hour chart, the Dow obtained a support rebound on the 34300 line, MACD remained under the zero axis, and the market had a brief support. Pay attention to the 34300 line below. The resistance still focuses on 34780-35000.
Resistance level: 34780 35000
Support bit: 34300 34000
Trading strategy: Bull above 34300, target 34700 35000
Alternative strategy: Below the drop below 34300, target 34000 33800
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