Dow Jones: Negative pressure remains 3/10/2022

The Dow Jones Industrial Average continues to achieve losses on Wall Street, to start pressing the support level of 29,000, recording its lowest level at 28,796 during the morning trading of today’s session.

Technically, we tend to the negativity, relying on the index’s base pivot below the previously broken support floor, which is now turned into a resistance level at 29,170, in addition to the negative pressure from the simple moving averages that support the bearish price curve.

Therefore, we may witness a bearish tendency during today’s trading session, knowing that the decline below 28,790 facilitates the task required to visit 28,560, the next awaited station, whose targets may extend later towards 28,400 and 28,300 as long as the price is stable below 29,170.

Note: The risk level is 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: 28560	R1: 29310
S2: 28300	R2: 29800
S3: 27800	R3: 30060