Dow Jones Suffered Losses

The Dow Jones Industrial Average suffered strong losses during the previous session’s trading, cancelling the positive outlook, as we expected it to reach its lowest level at 30,455.

On the technical side today, and with a closer look at the 60-minute chart, we find that there is a conflict in the technical signals, between the negativity of the 50-day moving average and the positive features that began to appear on the RSI.

Despite the technical discrepancy, we tend to be positive in a short time, expecting a slight bullish bias during the coming hours, targeting 30,985.

Note trading again below 30,635 will immediately stop any momentary attempts to rise, and we may witness a strong bearish trend targeting 30,430. Note: The level of risk may be high.

S1: 30430	R1: 30985
S2: 30165	R2: 31275
S3: 29875	R3: 31540