Dow Jones Settles Below Resistance

The Dow Jones Industrial Average declined significantly during the last trading session. We indicated during the previous analysis that any attempts to break 34,710 might put the price under negative pressure. Instead, we witnessed a retest of 34,650 initially, to post a low at 34,505.

On the technical side today, the indicator begins with negative pressure on the support level of 34,600, accompanied by clear negative signs on the RSI.

Therefore, the bearish bias is the most preferred, targeting 34,420 next target. Rising above 34,930 can thwart the descending attempts, and the index may witness a recovery towards areas of 35,200/35,230.

S1: 34420	R1: 34930
S2: 34200	R2: 35230
S3: 33900	R3: 35445