4-hr US30: Can We See a 2000 points Christmas Rally
Following the US elections, the Dow Jones surged by an impressive 3300 points in a massive bull rally, generating significant returns. However, a correction is underway as early buyers begin to take profits. We anticipate the US30 could dip another 250 points to retest the critical 50% Fibonacci level. This expectation is supported by the emergence of a Death Cross, a classic bearish signal, indicating strong downward momentum.
If the 43,300 zone holds as support, there’s potential for a 2000-point Christmas rally. Buyers looking to capitalize on the broader uptrend might need to exercise patience, waiting for lower entry points to achieve a more favorable risk-to-reward ratio. This pullback could present an opportunity for strategic positioning in anticipation of the next rally.
If the 43,300 zone holds as support, there’s potential for a 2000-point Christmas rally. Buyers looking to capitalize on the broader uptrend might need to exercise patience, waiting for lower entry points to achieve a more favorable risk-to-reward ratio. This pullback could present an opportunity for strategic positioning in anticipation of the next rally.
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