Dow Jones may continue to decline 3/2/2023

A downside trend dominated the movements of the Dow Jones Industrial Average on the New York Stock Exchange, recording its lowest level during the previous trading session at 32495.

On the technical side today, we tend to be negative in our trading, relying on the negative pressure coming from the simple moving averages, which constitute an obstacle in front of the index and the stability of the RSI below the mid-line of 50.

From here, with trading steadily below 32,860, the bearish scenario remains the most likely during today’s session, knowing that a decline below 32,630 facilitates the task required to visit 32,520, the first target, and losses have been made to visit 32,330.

Activating the suggested scenario requires the index price to remain below 32,880, cohesion above it nullifies the activation of the suggested scenario, and the Dow Jones Index witnessed a temporary recovery towards 33,050.

Note: The risk level may be 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: 32520	R1: 32880
S2: 32330	R2: 33050
S3: 32160	R3: 32245