Dow Jones: Negative Trend Still Valid

The Dow Jones Industrial Average touched the target mentioned in the previous analysis, at 31,170, posting its lowest levels at 31,167.

Technically, we tend to be negative in our trades depending on the negative signals coming from the RSI and its stability above the 50 midline, in addition to the intraday stability below the resistance level 31,460.

We maintain our negative outlook targeting 31,170, and breaking it extends the index’s losses to target 31,025. Surpassing the top that was recorded at 31,465 is capable of reversing the bearish tendency and leading the index to continue the series of gains towards 31,615.

Note: the expected bearish trend does not contradict the general bullish trend.

S1: 31170	R1: 31475
S2: 31025	R2: 31615
S3: 30880	R3: 31765