Dow Jones Trying to Slit its Way to Bounce Back

The Dow Jones Industrial Average witnessed mixed trading in New York during the previous session as it attempted to bounce back to the upside again.

Technically speaking, despite the inclination towards the upside, we still maintain the bias towards negative trades, considering the price remains stable below 28200/28195 in addition to stochastic gradually losing the bullish momentum.

From here, trading remains below the aforementioned level, and the bearish scenario will remain intact knowing that trading below 27800 facilitates the target of visiting 27520, followed by 27160.

The suggested scenario nullifies the upside to the resistance level at 28200, and the index may witness positive moves, the initial targets at 28360, followed by 28650.

Note that the level of risk is still high

S1: 27520	R1: 28360
S2: 27025	R2: 28690
S3:  26690	R3: 29190