Dow Jones is Attacking 35,000 Level And Risks Are High

The Dow Jones Industrial Average managed to achieve new political figures, as we expected, touching the official target required to be achieved during the previous session, at 34,950, to record a high of 35,000.

On the technical side, the current trading is witnessing a bearish tendency, and this is a natural result of the index colliding with the psychological barrier resistance level of 35,000.

With a closer look at the chart, we find that the moving averages are still Holding the price from below, accompanied by stochastic around overbought areas, on the other hand, we find the RSI indicator began to send warning signals in short intervals.

Consequently, we will stand on neutrality in order to maintain the profitability rates that were achieved yesterday until the next intraday trend becomes clearer in a more accurate manner, so that we will be in front of one of the following scenarios:

To resume the rise again, we need to witness stability above the support level of 34,490. We also need to witness a breakout of 34,750 again to facilitate the mission to visit 34,890, and gains may extend to visit 35,140 later.

In the event that 34,490 breaks are confirmed, we may witness a bearish bias targeting 34,410 and extending to 34,360.

Note: The risk level is high.

S1: 34495	R1: 34890
S2: 34360	R2: 35140
S3: 34110	R3: 35275