Dow Jones is facing negative pressure 17/11/2022

Mixed performance dominated the movements of the Dow Jones Industrial Average without a clear daily trend with limited bullish attempts to benefit from US retail sales data.

Technically, we tend in our trading to be negative, but with caution, relying on the stability of the price below the simple moving averages that exert negative pressure on the price from above, which is accompanied by the stability of the momentum indicator below the mid-line 50.

Therefore, the possibility of a bearish bias in the coming hours might be the most likely scenario, targeting 33,440 and 33,400, respectively, as long as trading remains stable below 33,700.

Note: The level of risk is 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: 33435	R1: 33700
S2: 33305	R2: 33835
S3: 33170	R3: 33965