Dow Jones may witness a temporary rise 20/5/2022

The bearish trend continues to dominate the movements of the Dow Jones Industrial Average within the expected bearish context during the previous analysis, to continue incurring losses, touching the targeted bearish price station during the last analysis at 30,980, recording its lowest level at 30,954.

On the technical side today, and with a closer look at the 60-minute time frame, we find that the 14-day momentum indicator started getting positive signs and stabilizing intraday trading above 31130.

We may witness a slight bullish slope in the coming hours that targets a retest of 31,500, and the intraday gains may extend towards 31,600 as long as the price is stable intraday above 31,130. Note: The mentioned slight bullish slope does not contradict the general bearish trend, whose official targets are around 30,730.

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: 31060	R1: 31630
S2: 30730	R2: 31860
S3: 30495	R3: 32190