Dow Jones hits bearish targets 26/9/2023

The Dow Jones Index suffered significant losses on the Wall Street Stock Exchange yesterday within the expected bearish context, exceeding the official bearish target required during the previous trading session at 34,100, recording its lowest level of 34,040.

Technically, continuing the negative intersection of the simple moving averages supports the daily bearish price curve and trading stability below the strong resistance 34,345.

From here, with daily trading remaining below the resistance level of 34,345 and more importantly 34,380, the downward trend is the most likely, targeting 34,030 as the first target, knowing that breaking the aforementioned level extends the index’s losses, directly opening the way to visit 33870.

As a reminder, the price’s consolidation again above 34,380 can temporarily thwart the bearish scenario and lead the index to retest 34,510.

Note: Risk level may be high.

Note: Today we are awaiting highly sensitive economic data issued by the US economy, “Consumer Confidence,” and we may witness high volatility when the news is released.

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: 34030	R1: 34345
S2: 33870	R2: 34510
S3: 33710	R3: 34660