Dow Jones continues its gradual decline towards the descending goals 24/8/2022

Negative trades dominated the movements of the Dow Jones Industrial Average within the expected bearish path during the previous analysis, touching our first required target of 32,860, recording the lowest of 32,770.

Technically and carefully considering the 60-minute chart, we find that the index’s price achieved a pivot below 33,095. In addition, we find that the simple moving averages continue to support the daily bearish price curve.

Therefore, we maintain our negative outlook, targeting 32,690, knowing that the decline below the mentioned level extends the index’s mistakes, and we are waiting for the next 32,540 price stations.

Rising again above 33,095 leads the pair to attempt to form a minor upward correction, with the aim of retesting 33,0190

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: 32690	R1: 33095
S2: 32540	R2: 33320
S3: 32300	R3: 33490