Dow Jones: negative pressure remains 29/11/2022

Negative performance of the Dow Jones Industrial Average during the first trading of this week, recording its lowest level at 33798.

Technically, we tend to be negative, relying on price stability below the 50-day simple moving average and confining the momentum to the short-term intervals.

From here, with steady daily trading below 34,000, the bearish scenario remains the most likely, targeting 33,700, and we must pay close attention to the mentioned level due to its importance for today’s session, and breaking it extends the index’s losses, opening the door to 33,500.

From above, consolidation above 34,000 leads the index to recover temporarily, aiming to retest 34,210.

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: 33700	R1: 34210
S2: 33495	R2: 34515
S3: 33195	R3: 34725