Noor Trends News, Technical Analysis, Educational Tools and Recommendations
During the last analysis, the Dow Jones Industrial Average declined on Wall Street to lose many points, recording its lowest price around 34,510 areas within the expected bearish path.
On the technical side today, and carefully looking at the 60-minute chart, we notice the continuation of the RSI defending the bearish trend, in addition to the stability of trading below the previously broken support level 34960.
The bearish scenario might be the most preferred during the current session’s trading to visit 34,355, knowing that breaking it may extend the index’s losses to make the way open to visit 34,025 as long as the price is stable below 34,960.
Crossing upwards again above the 34,960 resistance level may cancel the idea of the rise and we will witness a retest of 35170.
Note: The risk level is high.
Note: CFD trading involves high risk; all scenarios may occur.
| S1: 34355 | R1: 35170 |
| S2: 34025 | R2: 35655 |
| S3: 33540 | R3: 35990 |
