Dow Jones Resumes The Decline 10/1/2022

The Dow Jones Industrial Average declined noticeably at the end of last week’s trading, recording its lowest level at 35,960 after it faced a strong resistance level near 36270.

Technically, we tend to the negativity in our trading, relying on the 14-day momentum indicator having a stable bearish momentum below the mid-line 50 and the intraday stability below the previously broken support, which is now turned to the 26,260 resistance level.

Therefore, there may be a possibility to visit 35,950, knowing that the decline below it extends the index’s losses, opening the door to visit 35,800.

The bearish scenario requires trading to remain below 36,260, and its breach leads the index to recover again, with an initial target located around 36,410.

Note: The risk level is high.

Note: CFD trading involves high risk; all scenarios may occur.

S1: 35950	R1: 36250
S2: 35800	R2: 36410
S3: 35650	R3: 36550