Dow Jones is looking for more momentum 6/9/2022

The Dow Jones Industrial Average showed positive movements during the first trading of this week, attacking the 31,555 level, which formed a resistance level that succeeded in pressuring the price again.

Technically, the stability of the index price above 31,300 supports the possibility of a rise, but with caution, we find that the RSI is stable above the mid-line on the short time frames.

Therefore, we may witness a bullish tendency in the coming hours, provided that we confirm the breach of 31,440. That is a catalyst that enhances the chances of rising to visit 31,540 first target, and gains may extend later towards 31,660.

Breaking the pivotal support floor 31,300 can stop the rebound attempts, and we are witnessing a trading session in the negative areas, waiting for 31,200 and 31,070, respectively.

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: 31300	R1: 31540
S2: 31200	R2: 31660
S3: 31070	R3: 31765