Dow Jones continues to achieve bearish targets 30/6/2022

Negative trading dominated the movements of the Dow Jones Industrial Average in the New York Stock Exchange within the expected directional movement during the last analysis, surpassing the official price target station at 31,090 and recording its lowest level at 30,860.

Technically, with the price stability below the 50-day simple moving average, in addition to the clear negative signs on the RSI and its stability below the 50 mid-line.

From here and steadily trading below the previously broken support 31,100, and most importantly 31,150, the bearish scenario remains the most likely today, targeting 30,810 first target, and breaking it extends the index’s losses, to be waiting for 30,690 next official stations as long as the price is stable below 31,150.

Consolidation above 31,150 can thwart the bearish scenario mentioned above and lead the index to recover temporarily on an intraday basis, with targets starting at 31260.

The level of risk 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: 30810	R1: 31095
S2: 30695	R2: 31260
S3: 30530	R3: 31375