Stock index Dow Jones continue to move within the fall and the downward channel. At the time of the publication of the forecast, the index is trading at 24711. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to grow and test the resistance level near the area of 25100.
Dow Jones Index Forecast and Analysis June 4, 2019
In favor of the fall of the stock index quotes, a test of the resistance line on the indicator of relative strength index (RSI) will be made. The second signal will be a rebound from the upper boundary of the bearish channel. Cancellation of the option of falling index quotes will be a strong growth and a breakdown of the area of 25655. This will indicate a breakdown of the upper boundary of the channel and continued growth of Dow Jones with a target above the level of 26215. Wait for the fall in quotes to accelerate with the breakdown of the support area and close below 24645.
Dow Jones Index Forecast and Analysis June 4, 2019 suggests an attempt to test the upper boundary of the channel near the area of 25100. Then, further fall to the area below the level of 23985. A test of the trend line on the relative strength index (RSI) will come out in favor of a fall in Dow Jones quotes. Cancellation of the reduction option will be a strong growth and the breakdown of the area of 25655. This will indicate a continuation of the rise with a target above the level of 26215.
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