Dow Jones Faces Temporary Negative Pressure

The Dow Jones industrial average found a strong resistance level around 32,850, after several consecutive sessions of incline, as the current movements of the index witnessed a slight bearish slope due to the stability of intraday trading below 32740.

Technically speaking, today indicates the possibility of a temporary bearish bias on short time frames, resulting from negative signs coming from the RSI.

We aim to re-test 32,280 first goals, and then 32,220 second targets, knowing that breaking the last extends the index’s losses towards 32,120.

From the top, crossing up and rising above 32,740 will immediately stop the downside attempts, and the index will return to the official ascending path with an initial goal of 33,025 and then 33,050, and the gain may extend to 33,150 later.

Note: the mild bearish trend does not coincide with the general bullish trend.

S1: 32285	R1: 32740
S2: 32115	R2: 33025
S3: 31830	R3: 33195