Dow Jones may witness a decline 24/5/2022

The Dow Jones Industrial Average provided positive trading during the previous trading session within the expected positive outlook during the last analysis, surpassing the required target of 31,600, recording its highest price of 31,922.

On the technical side today, the current movements of the index are witnessing a bearish tendency as a result of stability below the 31,760 level, in addition to the clear negative signs on the 14-day momentum indicator on the 60-minute time frame.

Therefore, there is a possibility of a bearish tendency in the coming hours to retest 31,290 before attempts to rise again, knowing that consolidating above 31,760 and, most importantly, 31,780 may lead the index to visit 31,910 initially.

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: 31290	R1: 31910
S2: 30990	R2: 32225
S3: 30675	R3: 32530