Dow Jones: negative pressure in place 4/5/2023

As expected, the Dow Jones Industrial Average declined significantly during the previous trading session, surpassing the targets achieved at 33و410, recording its lowest level at 33و157.

Technically, by looking at the 4-hour chart, the 50-day simple moving average still constitutes a barrier in front of the price. Stochastic provides negative signals stimulated by signs of declining momentum.

The bearish slope is the most hopeful during the current trading session, but with caution, targeting 33,130, knowing that breaking the mentioned level increases and accelerates the strength of the bearish tendency, opening the door to visit 32,810.

Note: The level of risk is high

Note: Today, we are awaiting high-impact data issued by the euro area, “interest rates, the European Central Bank monetary policy statement and the European Central Bank’s press conference,” we may witness high price volatility at the time of the news release.

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: 33130	R1: 33790
S2: 32810	R2: 34145
S3: 32460	R3: 34460