Dow Jones is Looking For Confirmation

The Dow Jones industrial average ended last week in negative territory after facing a strong resistance level near 35,985, forcing it to visit lows around 35,488.

On the technical side, today, the current intraday movements are witnessing a slight bullish slope as a result of the RSI getting some bullish momentum signals, stable above the mid-line 50, in conjunction with the index’s intraday stability above 35,500 and in general above 35,440.

Therefore, we may witness a bullish bias in the coming hours, aiming to retest the 35,930 price area, knowing that its breach and the price stability above it can enhance the index’s gains to visit 36,210.

Below the support level, 35,440 can thwart the previous ascending attempts and put the price under intense negative pressure to extend the descending wave towards 35,220.

Note: The risk level is high.

S1: 35440	R1: 35935
S2: 35215	R2: 36210
S3: 34945	R3: 36435