Dow Jones returns to the official bearish trend 6/5/2022

The official bearish trend has regained control over the Dow Jones Industrial Average movements to reflect the expected bullish bias during the previous analysis, reaching its lowest level at 32,587.

On the technical side today, we find that the RSI continues to defend the bearish trend, and we find Stochastic that continues to provide negative signals on the 240-minute chart, accompanied by the negative pressure of the 50-day moving average.

Therefore, with the price pivoting intraday below the 33,200 level, and most importantly 33,275, the bearish trend is the most preferred today, targeting 32,440, knowing that breaking the mentioned level extends the index’s losses, opening the door to visiting 32,325 as long as the price is stable below 33,275.

Note: the level of risk may be high and not commensurate with the expected returns, and all scenarios are presented.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 32325	R1: 33755
S2: 31740	R2: 34600
S3: 30895	R3: 35185