DOW JONES: Failed on the 1D MA200, further decline possible.

CAPITALCOM:US30   Dow Jones Industrial Average Index
Dow Jones failed to close Friday's 1D candle over the 1D MA200 and opened the day lower. The 1D technical outlook remains bearish (RSI = 33.039, MACD = -323.740, ADX = 47.730) as the medium term Channel Down is still holding. A crossing over the 1D MA100 reverses this. Until then we can expect the decline to continue until it tests the HL trendline of the Channel Up or better yet the reversal is confirmed by a Buy Cross on the 1D MACD. A potential rebound there targets the R1 level (TP = 35,100).

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