Dow Jones May See a Temporary Decline

Negative trades dominated the Dow Jones Industrial Average on Wall Street during the previous trading session, to settle for recording its highest level around the 34,050 resistance level.

On the technical side, today we find negative signs appearing on Stochastic, accompanied by negative signs coming from the RSI.

From here, we may witness a bearish corrective tendency targeting 33,880, and breaking this level puts the index price under negative pressure to visit the second target 33,780.

A reminder that surpassing the upside of 34,070 resistance is able to completely negate the bearish bias scenario, and the index will recover again towards the official bullish path 34,150 and then 34,260.

Note: The risk level may be high.

S1: 33885	R1: 37070
S2: 33780	R2: 34150
S3: 33700	R3: 34260