Dow Jones Continues Touching Descending Targets

The Dow Jones Industrial Average declined significantly during the previous trading session within the expected bearish path mentioned in the previous analysis, touching the official target station at 33,780, recording its lowest price 33,570.

On the technical side, we notice that there is a clear breach of the support level 33,975/33,980 accompanied by negative signs of the RSI and its stability below the middle line.

From here, we believe that there is a possibility to continue the decline, knowing that breaking 33,570 increases and accelerates the strength of the bearish trend, with the first goal of 33,485/33,480, and losses may extend to 33,380 and 33,280 respectively.

Only from the top, the return of the index price stability above 33,980 will immediately stop the attempts to decline and lead the index to the official ascending path with the goal of 34,060, and then 34,260.

Note: The level of risk may be high.

S1: 33485	R1: 33975
S2: 33280	R2: 34260
S3: 32990	R3: 34460