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 27046. Moving averages indicate an uptrend. At the moment, we should expect an attempt to reduce and test the support level near the area of 27005. From where the rebound is expected and the continuation of the fall of the Dow Jones stock index quotes to the area below the level of 27515.
Dow Jones Index Forecast and Analysis July 31, 2019
In favor of the growth of quotations of the stock index on July 31, 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 of quotations of the index will fall and the breakdown of the area 26835. This will indicate a breakdown of the support level and the continuation of the fall of Dow Jones with a target below 26425. Expect the acceleration of the growth of quotations Dow Jones stands with the breakdown of the upper limit of the model «Triangle» and closing above the level of 27405.
Dow Jones Index Forecast and Analysis July 31, 2019 implies an attempt to test the resistance level near the 27005. Then the continuation of falling to the area below the level of 27515. In favor of the Dow Jones quotes reduction will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the area 26835. This will indicate a continuation of the rise with the goal above the level of 26425.
