Dow Jones Extends Losses 27/1/2022

The Dow Jones Industrial Average continues to achieve further declines, recording its lowest level during the last trading session around 33,530.

On the technical side, the bearish trend is still preferred today due to the price below the broken support-into-resistance at 34,200. We also notice that the RSI continues to defend the bearish trend.

Therefore, the index may resume its negative trading, knowing that the decline below the 33,580 level extends its losses and opens the door to visit 33,100 and 33,240.

Trading above 34,200 can postpone the suggested bearish scenario, and we are witnessing a temporary recovery to retest 34,410.

Note: The risk level is high.

Note: CFD trading involves high risk; all scenarios may occur.

S1: 33245	R1: 34415
S2: 32810	R2: 35140
S3: 32080	R3: 35570