Dow Jones is Facing Negative Pressure

The current moves of the Dow Jones Industrial Average are witnessing a bearish tendency, hitting the main resistance level at 35,640, settling around the lowest level during today’s session 35,550.

By looking at the 60-minute chart, we notice the negative pressure from the 50-day moving average, which coincides with the negative signals of the RSI.

From here and steadily trading below 35,640 increases the possibility that we will witness a bearish bias in the coming hours, targeting the 34,420 first target, knowing that breaking it puts the index price under negative pressure. Its next target is around 35,300.

A breach up and above the resistance above can thwart the suggested bearish scenario, and we may witness positive movements targeting 35770.

Note: The risk level is high.

S1: 35420	R1: 35660
S2: 35300	R2: 35770
S3: 35200	R3: 35895