Dow Jones give up its gains 14/9/2022

After the release of US inflation data, mixed trading dominated the movements of the Dow Jones Industrial Average in the New York Stock Exchange yesterday to give up its recent gains and record its lowest level at 31016.

Technically, we tend in our trading to the negative, relying on the return of the simple moving averages to pressure the price from above, accompanied by the stability of the 14-day momentum indicator below the 50 mid-line.

We wait for confirmation of breaking 31,100, which makes it easier than the task required to visit the 31,000 first target, then 30,700 initial targets that may extend later towards 30,570 as long as the price is stable below 31,600.

Note: We are waiting for US inflation data “Producer Price Index,” which has an impact, and we may witness high price fluctuations.

Note: the risks are 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: 30570	R1: 32210
S2: 29970	R2: 33260
S3: 28930	R3: 33850