Dow Jones Faces a Temporary Negativity

Negative trading dominated the movements of the Dow Jones Industrial Average during the last session, to touch the first negative target to be achieved at 31,220, recording its lowest price at 31,101.

On the technical side today, the intraday trading remains below the resistance level of 31,610 and the most important 31,640 supports the continuation of the negativity, in addition to the continuation of the RSI’s defence of the bearish bias over short time frames. Therefore, we are targeting 31,130.

From the top, the stability of trading above 31,640 could thwart the descending attempts and lead the index to a strong bullish path targeting 31,880. Note: The risk levels may be high today.

S1: 31130	R1: 31645
S2: 30860	R2: 31885
S3: 30620	R3: 32165