Dow Jones Facing Negative Pressure

Negative trading dominated the movements of the Dow Jones Industrial Average in the New York Stock Exchange within the expected bearish context during the previous analysis, touching the first target that is required to be achieved around 34,380, to record its lowest level at 34,387.

On the technical side today, we are inclined to the negativity based on the RSI gaining bearish momentum over the short time intervals.

From here and steadily trading below 34,480, the bearish tendency is likely today, provided that the break of 34,415 is confirmed, paving the way for the index to visit 34,180.

Crossing upwards to the resistance level 34,480 will postpone the chances of a decline, and we will witness an upside bias whose initial target is 34,560. Note: The risk level is high and the risk rate is not commensurate with the expected return.

S1: 34415	R1: 34660
S2: 34180	R2: 34865
S3: 33970	R3: 35000