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Dow: Low rebound

2023-08-22
424
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



Technical analysis:

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

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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