Dow Jones Faces Selling Pressure

Positive attempts dominated the Dow Jones Industrial Average in New York Stock Exchange within the bullish corrective slope, only to record the highest level during the last session, around 34,234.

Technically, we notice that stochastic is still providing negative signals, which increases the chances of continuing the bearish trend, in addition to stabilizing intraday trading below 34,230 and, most importantly 34,280.

Therefore, we tend to the negativity, but with caution, provided that we witness a clear and strong break of the 33,820 support level, which puts the index price under negative pressure, with its initial target around 33,620, taking into account that the last break increases the strength of the daily bearish trend towards 33,330.

A rise above 34,280 will immediately stop the expected bearish trend, and the index will recover again, to visit 34,530.

S1: 33620	R1: 34225
S2: 33330	R2: 34530
S3: 33030	R3: 34820