Dow Jones is experiencing temporary negative pressure 12/9/2023

Mixed trading dominated the movements of the Dow Jones Industrial Average on the Wall Street Stock Exchange yesterday, touching the first target to be achieved at the price of 34,710, recording its highest level of 34,809.

On the technical side today, we are leaning toward negativity in our trading, relying on trading stability below the 50-day simple moving average and intraday trading stability below the 34,720 resistance level.

Therefore, there is a possibility of a bearish tendency occurring during the coming hours, targeting 34,570 as the first target, and we are satisfied with this target only due to the high risks around the mentioned trading levels.

From above, the price consolidated again above the pivotal resistance of 34,710, leading the index to recover directly towards 34,785.

Note: The risk level may be high.

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: 34570	R1: 34785
S2: 34470	R2: 34905
S3: 34360	R3: 34990