Dow Jones: negativity remains 9/3/2023

The Dow Jones Industrial Average achieved the official bearish target to be touched during the last trading session at 32,620, recording its lowest level at 32,612.

On the technical side today, we notice the continuation of the negative pressure coming from the simple moving averages, which constitute an obstacle in front of the index, in addition to the continuation of the RSI’s defence of the bearish daily direction.

From here, with steady daily trading below 32,930, the bearish trend remains the most likely during the day, provided that we witness a clear and strong break of the support floor of 32,620, and that extends the index’s losses, so that we are waiting to touch 32,465, the first target, and then 32,320, respectively, unless we witness the index’s consolidation again above 32930.

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: 32620	R1: 32910
S2: 32465	R2: 33055
S3: 32320	R3: 33200