Dow Jones Trying to Consolidate 7/2/2022

The positive attempts of the Dow Jones Industrial Average continue to hold on to the bullish slope, recording its highest level around 35,200 by the end of last week, and the current moves are witnessing stability above 34,700.

On the technical side, we find that the 14-day momentum indicator is still defending the bullish bias, in addition to the positive crossover signs that started appearing on stochastic.

There may be a possibility of an upward bias during today’s trading, knowing that trading above 35,220 is a positive factor that motivates the price to visit 35,480 next station as long as the index price is positioned above the support level of 34,700.

The decline below 34,700 will postpone the chances of rising, and we may witness a bearish tendency to visit the areas of 34,675 and 34,395, respectively.

Note: The risk level is high.

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

S1: 34675	R1: 35220
S2: 34395	R2: 35480
S3: 34135	R3: 35760