Dow Jones could see a downward slope 18/8/2022

Mixed trading Dominated the movements of the Dow Jones Industrial Average, recording its lowest level around 33,800, after recording the highest of 34,178.

Technically, the current movements are witnessing a bearish tendency due to the decline in the bullish momentum on the short time frames, in addition to the stability of the intraday trading below the 34,160 resistance level.

We may witness a bearish tendency in the coming hours, provided that we witness a clear and strong break of 33,900, which facilitates the task required to retest 33,760, and losses may extend towards 33,590, unless we witness a climb to 34,160.

We remind you that the consolidation of the index price above 34,160 invalidates the activation of the suggested bearish scenario and leads the index to recover with targets starting at 34,340.

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: 33760	R1: 34140
S2: 33590	R2: 34345
S3: 33380	R3: 35515