Stock index Dow Jones continue to move within the framework of the side correction and the formation of the «Triangle» model. At the time of the publication of the forecast, the index is trading at level 27161. Moving averages indicate an uptrend. At the moment, we should expect an attempt to reduce and test the support level near the area of 27145. Where is the rebound expected and the continuation of the fall of the Dow Jones stock index quotations to the area below the level of 27505.
Dow Jones Index Forecast and Analysis July 30, 2019
In favor of the growth of quotations of the stock index on July 30, 2019, a test of the rising trend line on the relative strength indicator will come out. The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the growth rate of the index quotes will fall and the breakdown of the area 26905. This will indicate a breakdown of the support level and the continuation of the fall of Dow Jones with a target below the level of 26550. Dow Jones is expected to accelerate the growth of quotations with the breakdown of the upper limit of the «Triangle» model and closing above the level of 27425.
Dow Jones Index Forecast and Analysis July 30, 2019 implies an attempt to test the resistance level near the area of 27145. Then the continuation of falling to the area below the level of 27505. In favor of the Dow Jones quotes reduction will be a test of the trend line on the relative strength indicator. Cancellation of the fall option will be a strong growth and the breakdown of the area 26905. This will indicate a continuation of the rise with the goal above the level of 26550.
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