Stock index Dow Jones continue to move within the growth and upward channel. At the time of the forecast publication, the index is trading at the level of 30031. Moving averages indicate a bullish trend in the index. At the moment, we should expect an attempt to develop a correction in quotations and a test of the support level near the area of 29655. Further, a rebound and continued growth of quotations of the Dow Jones stock index to the area above the level of 31875 is expected.
Dow Jones Index Forecast and Analysis January 6, 2021
On January 6, 2021, a test of the rising support line on the relative strength index (RSI) will be in favor of the growth of the stock index quotes. The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the growth option for the index quotes will be a fall and a breakdown of the area of 28765. This will indicate a breakdown of the support level and a continuation of the fall of the Dow Jones with a target below the level of 27155. Expect an acceleration in the growth of Dow Jones quotes with a breakdown of the resistance area and closing above 30905.
Dow Jones Index Forecast and Analysis January 6, 2021 suggests an attempt to test the support level near the 29655 area. Then, continued growth to the area above the 31875 level. In favor of the rise in Dow Jones quotes, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the growth option will be a fall and a breakdown of the 28765 area. This will indicate a continued decline with a target below 27155.
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