The Dow Jones has now broken and closed below the support of 34,024, The next support levels are at 33,604 and 33,499.

Taking a look at the Dow Jones as the index has now broken and closed below the support of 34,024, currently trading at around 33,718. We can see the index has now approached yet another support level, which reads 33,604 (yellow trendline), a break below it may see a slide towards 33,499 (orange). As the bias remains heavily bearish for the time being, it would be unreliable to look at any resistance levels. However, if we see some consolidation along the approached support level, then we do have resistance at 33,777 followed by 33,837. A break and close above 33,837 could see a push back up to the 34,000 mark. If we look at the technical indicators, we can see that both the MACD and RSI support the current bias. The MACD remains strongly negative and the RSI reads 30, though the RSI has just entered the oversold zone, so we may see the bulls try to fight back over the next couple of days.