Dow Jones Faces Temporary Negative Pressure

Mixed trades dominated the movements of the Dow Jones Industrial Average during the previous trading session, approaching the required target located at 30,360, posting a high of 30,320.

On the technical side, the current movements are witnessing a bearish bias on short time frames due to the negative signs coming from the RSI, which is accompanied by the negative pressure of the 50-day moving average.

From here, there may be a possibility of a slight bearish bias during the coming hours targeting 29,720. From the top, trading again above 30,000 leads the index to the official bullish path, whose targets are 30,190 and extend to 30,260.

Note: the indicated slight breaish slope does not contradict the general bullish trend.

Note: the level of risk may be high today.

S1: 29705	R1: 30190
S2: 29530	R2: 30490
S3: 29220	R3: 30670