Stock index Dow Jones continue to move in the framework of decline. At the time of the publication of the forecast, the index is trading at 24598. At the moment, we should expect an attempt to test the support level near the 24350 area. Where can we expect a rebound and continued growth of Dow Jones quotes to the area above the level of 25450.
Dow Jones forecast & technical analysis November 28, 2018
In favor of the growth of quotations of the stock index will test the rising trend line on the index (RSI). As well as the formation of a bullish model «Wolfe Wave». Cancellation of the growth of quotations of the index will fall and the breakdown of the area of 24000. This will indicate a breakdown of the lower boundary of the channel and the continued decline of Dow Jones with a target below 23550. Wait for confirmation of the growth of quotations Dow Jones stands with the breakdown of the resistance area and closing above 24850.
Dow Jones forecast & technical analysis November 28, 2018 suggests an attempt to test the lower boundary of the channel near the 24350 area. Then, the growth will continue to the area above the level of 25450. The Dow Jones quotes will be supported by a test of the support line on the relative strength index (RSI). The cancellation of the growth option will be a strong fall and a breakdown of the 24000 area. This will indicate a continued decline and cancellation of the «Wolfe Wave» model.
