Dow Jones is trading at 25747. The index continues to move below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Dow Jones. A test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 25800, from where we can expect an attempt of a rebound and further development of the downward movement in order to fall near the area of 25000.
Dow Jones forecast & analysis October 18, 2018
An additional signal in favor of reducing the stock index quotes will be the test of the upper limit of the upward channel, as well as a rebound from the resistance level. Earlier, a weak signal was received for buy of the Dow Jones stock exchange index, due to the crossing of signal lines at the level of 25460.
Cancellation of the fall in quotations of the stock index will be a breakdown of the upper limit of the Ichimoku Kinko Hyo Cloud with the close of quotations above 25950, indicating a change in the downward trend in favor of the bullish and continued growth. Expect to accelerate the fall of quotations of the Dow Jones stock index stands with the breakdown of the support area and closing below the area of 25200.
Dow Jones forecast & analysis October 18, 2018 suggests an attempt to test the resistance level level near 25800, from which we can expect a rebound and a further fall in the stock index with a potential target near the 25000 level.