Stock index Dow Jones continue to move as part of a strong fall. At the time of the publication of the forecast, the index is trading at 25803. Moving averages indicate the presence of a bullish trend. At the moment, we should expect an attempt to increase the index quotes and test the resistance level near the area of 26125. Where is the rebound expected and the continuation of the fall of the Dow Jones stock index quotes in the region below the level of 24065.
Dow Jones Index Forecast and Analysis August 7, 2019
In favor of reducing the quotes of the stock index on August 7, 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 border of the bear channel. Cancellation of the option of falling index quotes will be a strong growth and a breakdown of the area of 26550. This will indicate a breakdown of the resistance level and continued growth of the Dow Jones with a target above the level of 27005. Expect an acceleration of the fall of the Dow Jones quotes with the breakdown of the support area and closing below 24855.
Dow Jones Index Forecast and Analysis August 7, 2019 suggests an attempt to test the resistance level near the area of 26125. Then, the continuation of the fall to the area below the level of 24065. A test of the trend line on the relative strength index (RSI) will be in favor of a decrease in Dow Jones quotes. Cancellation of the fall option will be a strong growth and a breakdown of the area of 26550. This will indicate a continuation of the rise with the target above the level of 27005.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
