Dow Jones and negative pressure stands 7/6/2022

Mixed trading tended to the negative dominate the Dow Jones Industrial Average movements in the New York Stock Exchange yesterday. As a reminder, we committed ourselves to neutrality due to the conflicting technical signals.

On the technical side today, and carefully looking at the 60-minute chart, we find a clear decline in the momentum accompanied by the index’s consolidation below the 33,030 resistance level and in general, below 33,085.

We tend to be negative, but with caution, knowing that the decline below 32,760 extends the index’s losses, opening the way to visit 32,385 initial stations whose negative targets extend towards 32,285.

Skipping up and the price consolidation above 33085 can thwart the expected bearish scenario, and the Dow Jones index will temporarily recover towards 33410.

Note:: The risk level is 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: 32570	R1: 33085
S2: 32385	R2: 33415
S3: 32060	R3: 33590