Stock index Dow Jones continue to move within the growth and the bearish channel. At the time of the publication of the forecast, the index is trading at 25638. 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 25055. 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 7, 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 an inverted model of «Head and Shoulders». 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 area of resistance and closing above the level of 26005.
Dow Jones Index Forecast and Analysis June 7, 2019 implies an attempt to test the support level near the 25055 area. Then, the growth will continue to the area above the 26095 level. The Dow Jones quotes will be tested by the trend line on the relative strength index (RSI). 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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