Dow Jones surrenders to the downtrend 10/5/2022

The Dow Jones Industrial Average managed to touch the official descending target mentioned in the last analysis, at 32,125, to record its lowest level at 31,980.

Today’s technical aspect indicates the possibility of continuing the decline based on the RSI’s continued defence of the bearish trend and the stability of daily trading below 32,500.

Therefore, the bearish scenario is the most preferred today, knowing that the decline below the low of 31,980 increases and accelerates the strength of the daily bearish trend, opening the door to visit 31,660 next stations as long as the price is stable below 32,500 and in general the trend is bearish unless we witness any trading above 32,620.

Note: the level of risk may be high

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 31980	R1: 32620
S2: 31660	R2: 32940
S3: 31340	R3: 33260