Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Mixed trades dominated the movements of the Dow Jones Industrial Average during the previous trading session on Wall Street, recording its highest level at 32030.
On the technical side, trading in a short time frame witnessing a bearish bias, as we find the price stable below 31,300, and in general below 31,360, accompanied by the negative pressure of the 50-day moving average, in addition to the loss of the RSI bullish momentum.
Consequently, we may witness a bearish tendency during the coming hours, whose initial target is 31,000 and then 30,975 and may extend later towards 30,900. Trading above 31,360 will immediately stop the bearish scenario and the index will recover with the aim of visiting 31,830 and then 32,300. Note: The level of risk is high.
| S1: 30975 | R1: 31830 |
| S2: 30645 | R2: 32355 |
| S3: 30120 | R3: 32680 |
