Dow Jones Incurs Strong Losses

The Dow Jones Industrial Average found a strong resistance level at 34,830, which forced it to trade negatively during the previous trading session. It also started the day’s recording its lowest price at 34,213.

On the technical side, we tend to be negative based on the clear negative crossover signs on Stochastic, accompanied by the RSI’s continued defense of the negative moves.

Therefore, the daily trend is bearish, targeting 34,000 official stations, considering that breaking the mentioned level will increase the bearish trend’s strength and open the door towards 33750.

Skipping upwards and stabilizing the price above 34,500 postpones the chances of a decline but does not cancel them, and we may witness a re-test for the 34,670 level before attempts to decline again.

Note: the level of risk is high

S1: 34000	R1: 34670
S2: 33745	R2: 35080
S3: 33330	R3: 35340