Dow Jones Re-testing Support

The Dow Jones Industrial Average found a strong resistance level around 30,160, which was able to limit the upside temporarily, as the current moves are witnessing a slight bearish slope around its lowest level during the session 29,950.

On the technical side, and with a closer look at the 60-minute chart, we find the index is stable below the resistance level 30,060, and we find the RSI indicator started to gain temporary bearish momentum.

Therefore, we may witness a slight bearish tendency during the coming hours with the target of 29,835, and the price should be monitored well in case the aforementioned level is broken, because this puts the price under temporary negative pressure, targeting 29,770.

The return of trading stability again above 30,060 will immediately stop the slight bearish tendency and recover the index to resume the official bullish path, with targets starting at 30,110 and ending at 30,270.

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

S1: 29835	R1: 30110
S2: 29710	R2: 30265
S3: 29550	R3: 30385