Dow Jones Faces Temporary Negative Pressure

The current moves in the Dow Jones Industrial Average are witnessing a slight bearish bias, as a result of a collision with the resistance level 29480, and consolidate around the low of 29225.

Technically, today, we are biased negatively in our intraday trading, depending on the negative signs coming from the RSI and gradually losing the bullish momentum. In the coming hours, we are aiming to re-test 29110 and then 29070 respectively.

The activation of the suggested scenario depends on trading stability below 29440 and the most important 29480. The breach of the latter is able to negate the bearish intraday scenario and lead the pair to the official bullish path with initial targets starting at 29620/29640.

Note: The level of risk is high.

S1: 29110	R1: 29440
S2: 28960	R2: 29620
S3: 28775	R3: 29770