Dow Jones Touching Descending Targets

The Dow Jones Industrial Average declined significantly during the previous session’s trading on Wall Street, touching the target mentioned in the prevoius analysis, located at a price of 32,300, to record its lowest level at 32,231.

On the technical side, today, with the RSI indicator continuing to defend the bearish trend, in addition to trading remaining below the previously broken support, which was converted into resistance at 32,500, and most importantly, 32,540.

Therefore, we will maintain our negative outlook targeting 32,150/32,140 and then 31,970. Activating the suggested scenario depends on trading remaining below 32,500, and surpassing it upwards may force the index to re-test 32,540 and then 32,590.

S1: 32140	R1: 32540
S2: 31970	R2: 32790
S3: 31730	R3: 32940