Dow Jones Surrenders to the Downside

Dow Jones Industrial Average declines to the downside, approaching the gradually descending target at 34,000, recording its lowest price at 34,122.

On the technical side today, and with careful consideration of the chart, we notice that the indicator continues to receive negative signals from the RSI, accompanied by the negative pressure of the simple moving averages.

Therefore, we maintain our negative expectations, complementing the previous analysis’s targets 34,120, first target, and then 34,075 and 34,000, respectively, knowing that breaking the latter extends the index’s losses to be the next stop at 33,920.

Trading above 34,430 can thwart the suggested bearish scenario and may lead the index to retest 34,640. Note: The risk level is high.

S1: 34075	R1: 34435
S2: 33920	R2: 34640
S3: 33720	R3: 34795