The Dow Jones Industrial Average Index continued the corrective rise during its recent trading at the intraday levels, very slightly. But by the end of trading on Monday, the Dow Jones Industrial Average closed with a very slight decrease, as it fell on Monday to achieve losses of 0.52%, equivalent to 164.31 points, to settle at the end of trading at 31,173.85.
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Also, members of the Federal Reserve’s Monetary Policy Committee decided at its meeting last month that another 50 or 75 basis points hike was “likely appropriate” this July as it struggles to curb inflation.
The decline of US stock indices coincides with the US dollar index achieving historical gains, with a significant increase of 0.67% on Monday.
These losses came as a correction wave after the US stock indices made gains at the beginning of last week, after the minutes of the Federal Reserve’s monetary policy meeting in June indicated the possibility of raising the interest rate again later this month, despite the risks of a slowdown. Economic growth.
On the other hand, by looking at the technical analysis of the Dow Jones Industrial Average, we find that it has come close to reaching the historical support point, which had reached its peak in January of the year 2020 at 29,504.85 points, as it reached the lowest correction level for the Dow Jones Index. During the month of June, it reached the level of 29706.45 points, where the best levels of the Dow Jones buy recommendations are at the support prices of 29504.85 points, in addition to the price level of 27495.00 points.