Dow Jones faces temporary negative pressure 9/8/2022

The Dow Jones Industrial Average on Wall Street achieved the official price target during the previous report at 32,860, surpassing the target to record its highest level at 33,063.

On the technical side today, by looking at the 60-minute chart, we find that the intraday movements of the indicator tend to be negative due to the stability below 32,880, and most importantly 32,900, accompanied by the RSI attempts to provide negative signals.

We tend to be negative, but with caution, and we prefer to witness a clear and strong break of the 32,830 level to target 32,680, knowing that the stability of the index price below the mentioned level may increase losses to visit 32,600.

From the top, trading stability again above 32,900 can enhance the index’s gains, and we are witnessing a trading session in the green areas, waiting for 33,030 and 33,220, respectively.

Note: The risk level is high.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 32680	R1: 33030
S2: 32525	R2: 33220
S3: 32335	R3: 33375