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Dow, Technical Analysis, Stocks

Dow Jones Settled Below Support

Adel 1 February, 2021 11:45 am Daily Technical Analysis, Technical Analysis

Negative trading dominated the movements of the Dow Jones Industrial Average, with the conclusion of last week’s trading, touching our first awaited target, located at 29,950, recording the lowest price of 29,752.

Technically, we tend to be negative in our trading, relying on trading stability below the previously broken support, which turned into resistance at 30,380 and generally below 30,470, in addition to the negativity of Stochastic.

Consequently, the bearish scenario will remain valid and effective targeting 29,730, then 29,680 next stops. The bearish scenario depends on trading stability below 30,480.

S1: 29680R1: 30375   
S2: 29375R2: 30750   
S3: 29000   R3: 31065   

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