Dow Jones Faces Temporary Negative Pressure

Negative moves dominated the Dow Jones last week, approaching the target of retesting 29110, to hit a low of 29170.

Technically, looking at the 60-minute chart, we find that the RSI continues to provide negative signals with the intraday trading stable below 29445/29440.

From here, we will maintain negative expectations for retesting 29170 then 29050. Breaking the resistance level at 29440 is able to negate the bearish scenario and push the pair to the upside with an initial target of 29570. Warning: The risk level is still high.

S1: 29180	R1: 29445
S2: 29045	R2: 29570
S3: 28920	R3: 29710