Dow Jones May Experience a Temporary Rise

The Dow Jones Industrial Average declined significantly yesterday after facing a strong resistance level near 28050.

Technically, the current moves in the index are trying to replicate the chances of a rally in short time intervals. We see RSI above the midline, in addition to the intraday trading above 27610 and the most importantly, 27540, which increases the possibility of a slight bullish slope during the coming hours, knowing that trading above 27710 facilitates the mission of visiting 27960.

On the downside, trading again below 27500 support will impede any attempts to rise and push the index down again towards 27265. Warning: The risk level may be high.

S1: 27265	R1: 28050
S2: 26865	R2: 28440
S3: 26480	R3: 28840