Dow Jones is preparing for a further decline 11/5/2022

The Dow Jones Industrial Average declined significantly on Wall Street during the previous trading session within the general bearish track, recording its lowest price at 31,804.

Technically and carefully considering the chart, the index has moved away from the pivotal support level 32,500. However, stochastic is still providing negative crossover signals.

Therefore, the bearish scenario remains valid, knowing that the decline below 32,150 increases the negative pressure on the price of the index so that we are waiting for the first target around 31,750, the price behavior of the index must be monitored around this level because breaking it increases and accelerates the strength of the daily bearish trend towards 31,350 areas as long as the price stable below 32,500

Note: the level of risk may be 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: 31750	R1: 32610
S2: 31350	R2: 33065
S3: 30895	R3: 33465