Dow Jones Back to Build on Support Again

Mixed trades dominated the movements of the Dow Jones Industrial Average during the previous session within a bearish context to the downside, recording its lowest level at 33,627.

On the technical side today, and despite the bearish bias, we find the RSI indicator still defending the upside bias, accompanied by the return of the index’s stability above the support level of 33,710.

Therefore, a bullish bias may be likely today, targeting 34,050 the first target, bearing in mind that confirming the breach of the aforementioned level is a catalyst to enhance the chances of an upside move towards 34,160.

Only from below the breach of the pivotal support level 33,710 is able to thwart the attempts to rise and lead the index price to strong negative trade, its initial target is around 33,490.

Note: the risk level is still high.

S1: 33710	R1: 34050
S2: 33495	R2: 34180
S3: 33360	R3: 34400