The stock index Dow Jones is trading at 20906.3. Quotations Dow Jones are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for the Dow Jones. At the moment, quotations of the stock index test the lower boundary of the bands of the indicator Bollinger Bands. An insignificant correction of quotations for Dow Jones near 20860.0 level is expected, from which one should expect an attempt to continue growth and further development of the bullish trend with the first target near the level of 21100.0.
Bollinger Bands Dow Jones Forecast on May 4, 2017
The conservative buying area is near the lower border of the Bollinger Bands indicator bars at 20890.0. The abolition of the option of continuing the growth of Dow Jones will be a breakdown of the region of the lower border of the indicator bars, as well as a moving average with a period of 55 and the closing of quotations of the index below the area of 20780.0, which indicates a change in the trend in favor of the bearish on the Dow Jones. In the event of a breakdown of the upper boundary of the indicator bands, it is expected to accelerate the growth of the exchange index in the area above the level of 21100.0.
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