Dow Jones may witness a temporary decline 15/6/2023

The Dow Jones Industrial Average presented mixed trading that tended to be positive yesterday, heading to visit the first target of 34,180, recording its highest level of 34,195, which succeeded in limiting the bullish bias.

Technically, the RSI is trying to provide positive signs that support the possibility of an increase and is stimulated by the continuation of the positive motive coming from the 50-day simple moving average. On the other hand, we find signs of negativity starting to appear on the stochastic.

We may witness a limited bearish bias in the coming hours, aiming to retest 33,740, knowing that the bearish bias does not contradict the bullish trend, whose targets are around 34,160 once 34,060 is breached.

Note: Today we are awaiting high-impact economic data issued by the US economy “consumer price index” and from the United Kingdom “Bank of England governor’s speech,” and we may witness high volatility at the time of the news release.

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: 33740	R1: 34160
S2: 33540	R2: 34390
S3: 33310	R3: 34585