Dow Jones tries to consolidate within the general downtrend 19/9/2022

The Dow Jones Industrial Average declined significantly at the end of last week’s trading, within the expected negative outlook, touching the bearish targets, reaching the official station of 30,695, recording its lowest level at 30,643

On the technical side, today, the index’s current movements are witnessing a bullish bias due to its attempt to consolidate above the 30,760 support level. We find the RSI trying to obtain positive signs on the 60-minute time frame.

We may witness a limited bullish bias in the coming hours, whose target is to retest 31,010, knowing that the mentioned bullish bias does not contradict the daily bearish trend, whose official targets are around 30,500 once 30,680 is broken.

Note: the risks are high.

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: 30680	R1: 31010
S2: 30500	R2: 31150
S3: 30360	R3: 31335