Dow Jones Continues to Negative Ahead of NFP

The Dow Jones Industrial Average provided positive trades during the previous trading session on Wall Street, recording the highest at around 34,851.

On the technical side, the intraday movements of the indicator are witnessing a bearish tendency as a result of the price’s intraday stability below the 34855 resistance level. In addition, we also notice the clear negative signs on the RSI on the short time frames.

Therefore, we believe there is a possibility of a bearish bias in the coming hours, targeting 34,510 and then 34,420, considering that breaking the latter increases the negativity. We will be waiting for 34,330.

Rising again above 34,880 will immediately stop any attempts to retreat and lead the index to recover with a target of 35,110.

Note: the level of risk is high.

S1: 34415	R1: 34880
S2: 34160	R2: 35110
S3: 33945	R3: 35360