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Dow: Strong rebound

Fundamental analysis:

On Friday (August 25th), the annual meeting of global central banks in Jackson Hole was held. Powell's "hawk release" shocked the market. U.S. stocks opened higher and moved higher. Powell said the Fed remains committed to its goal of reducing inflation to 2% and will cautiously decide whether to raise interest rates again. Until inflation slows sustainably, policy will be restrictive; if appropriate, the Fed is ready to raise interest rates further.

DJ30 four-hour chart

Brief technical analysis:

Looking at the 4-hour chart, the Dow rebounded back above 34300 after being supported at the 34100 line.

Resistance level: 34700 34950
Support level: 34300 34100

Trading strategy: Bullish above 34300, target 34700 35000
Alternative strategy: bearish below 34300, target 33900 33600

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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