Stock index Dow Jones continues to move in the framework of a strong correction and the downward channel. At the time of the publication of the forecast, the index is trading at 25411. Moving averages indicate a bearish trend. At the moment, we should expect a fall and a test of the support level near the area of 25045. Where should we expect a rebound and the continuation of the rise of the Dow Jones stock index quotes to the area above the level of 26095.
Dow Jones Index Forecast and Analysis June 6, 2019
In favor of the growth of quotations of the stock index will make a test of the broken trend line on the indicator of relative strength index (RSI). The second signal will be the formation of the «Head and Shoulders» reversal pattern. Cancellation of the growth rate of the index quotes will fall and the breakdown of the area 24465. This will indicate a breakdown of the support area and the continuation of the fall of Dow Jones with a target below the level of 24165. Expect the acceleration of the growth of quotations Dow Jones stands with the breakdown of the upper boundary of the downward channel and closing above the level of 26005.
Dow Jones Index Forecast and Analysis June 6, 2019 suggests an attempt to test the support level near the area of 25045. Then, the growth will continue to the area above the level of 26095. A test of the trend line on the relative strength index (RSI) will be in favor of raising the Dow Jones quotes. Cancellation of the growth option will be the fall and the breakdown of the area 24465. This will indicate a continuation of the decline with the goal below the level of 24165.
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