Dow Jones continues to drop to the downside 23/2/2023

The Dow Jones industrial index continued to achieve losses on Wall Street, touching the first target published during the previous technical report of 32,950, recording its lowest level of 32,950.

Technically, we tend to be negative in our trading, relying on the continuation of the RSI’s defense of the bearish direction and the negative pressure coming from the 50-day simple moving average, which supports the bearish daily price curve.

From here, with trading stability below 33,270, the bearish trend is the most preferred during today’s session, targeting 32,970, and breaking it increases and accelerates the strength of the bearish trend, to be waiting for it to touch 32,820.

Warning: the risk level may be high today.

Note: Today, we are awaiting quarterly the preliminary reading of the gross domestic product in the US, and we may witness a high fluctuation in prices at the time of the release.

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: 32970	R1: 33270
S2: 32815	R2: 33405
S3: 32675	R3: 33560