Dow Jones Sees Further Decline

The Dow Jones Industrial Average declined sharply and rapidly within the negative outlook expected during the previous analysis, surpassing the target of the second downward correction located at 30,590, to reach its lowest level at 30,504.

Technically speaking, after the index found a solid resistance level around 30,860, in addition to the obvious negativity on the stochastic indicator and the clear negative signs on the RSI.

This encourages us to maintain our negative outlook targeting 30,510 and 30,330 thereafter. Rising again above 30,860 will immediately cancel the bearish scenario, and we may witness positive trading targeting 31,030.

Note: the level of risk is high.

S1: 30510	R1: 30860
S2: 30330	R2: 31030
S3: 30165	R3: 31210