Dow Jones loses Before The Fed meeting

Negative trading dominated the movements of the Dow Jones Industrial Average on Wall Street, canceling the expected positive outlook during the previous analysis, touching the stop losses order published in the previous analysis at 34,230, recording its lowest price at 34,190.

On the technical side today, and with a closer look at the 60-minute chart, we find that the RSI has started to lose its bullish momentum, coinciding with the negative pressure of the 50-day moving average.

Therefore, we may witness negative trading in the coming hours, provided that we confirm breaking 34,250, targeting 34,150, and losses may extend towards 34,050.

Skipping up and rising again above 34,320 will stop the bearish scenario and the index will recover again with the aim of retesting 34,370 and then 34,430.

S1: 34150	R1: 34430
S2: 34040	R2: 34590
S3: 33870	R3: 34710