Stock index Dow Jones continue to move as part of the fall and the start of development of the «Triangle» model. At the time of the publication of the forecast, the index is trading at 26862. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to raise quotes and test the resistance level near the area of 27055. From where the rebound is expected and the fall of quotations of the Dow Jones exchange index to the area below the level of 26455.
Dow Jones Index Forecast and Analysis August 2, 2019
In favor of reducing the quotes of the stock index on August 2, 2019, a test of the downward trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling index quotes will be a strong growth and a breakdown of the area of 27205. This will indicate a breakdown of the resistance level and continued growth of the Dow Jones with a target above the level of 27505. Expect an acceleration of the fall of the Dow Jones quotes with the breakdown of the support area and closing below 26505.
Dow Jones Index Forecast and Analysis August 2, 2019 suggests an attempt to test the resistance level near the area of 27055. Then, a continuation of the fall to the area below the level of 26455. A test of the trend line on the relative strength index (RSI) will be in favor of lowering the Dow Jones quotes. Cancellation of the fall option will be a strong growth and the breakdown of the area of 27205. This will indicate a continuation of the rise with the target above the level of 27505.
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