Dow Jones Faces Negative Pressure

The Dow Jones Industrial Average managed to achieve the targets required to be reached in the previous analysis at 28030, posting a low of 28038.

Technically, by looking at the 60-minute chart, we find that the 50-day moving average is pressing the price from the top, with the stochastic gradually losing the bullish momentum.

Therefore, the bearish bias may be the most likely today, provided that breach of 28240 is confirmed, and this facilitates the mission required to visit 28100 as a first target, followed by 27850.

From the top, with steady trading above 28500 and most importantly 28550, the bearish scenario is negated, and the index returns to trade positively towards 28740.

Warning: the level of risk may be high and not proportional to expected return.

S1: 28100	R1: 28550
S2: 27845	R2: 28740
S3: 27655	R3: 28995