Dow Jones is facing negative pressure 6/12/2022

The Dow Jones Industrial Average declined on the New York Stock Exchange yesterday after finding a strong resistance level near 34,410, which forced it to decline gradually towards 33,850.

On the technical side today, we are biased towards negativity based on the negative pressure from the Simple Moving Averages and the negative signals from the 60-minute RSI.

Therefore, the bearish slope is more likely during the coming hours, provided that we witness a break of 33,850, which facilitates the task required to visit 33,750, and the losses have been made to visit 33,660.

Note: The risk level 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: 33750	R1: 34320
S2: 33520	R2: 34650
S3: 33190	R3: 34880