Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The current moves of the Dow Jones Industrial Average are witnessing a bearish tendency after it failed to maintain trading above the support level of 35,200.
On the technical side today, and with a closer look at the 60-minute chart, we find that the RSI lost its bullish momentum, in addition to the negativity of the stochastic indicator.
The bearish tendency is the most conservative today, but with caution, knowing that breaking 35,075 will extend the losses of the index, opening the way to visit 34,965 first target, and losses may extend later to visit 34,820.
Only from above, trading stability returns above the previously broken support level, which is now turned into a resistance level at 35,200, which postpones the chances of a decline, but does not cancel them, and we may witness a slight bullish slope that targets a retest of 35,320.
| S1: 34965 | R1: 35345 |
| S2: 34810 | R2: 35550 |
| S3: 34580 | R3: 35730 |
