Dow Jones 30 steadies as a US GDP contraction may temper the Fed’s hawkish stance. The index has given up most gains from the March rally.
The demand zone between 32700 and 33000 is an important guardrail to keep the price afloat in the medium term. A bearish breakout could extend losses beyond 32300, leading up to a potential bear market.
A bullish RSI divergence is an encouraging sign as the sell-off could be slowing down. Nonetheless, buyers will need to push past 34150 to ease the selling pressure first.
