Stock index Dow Jones continue to move as part of the growth and development of the “Triangle” model. Moving averages indicate the presence of a short-term bearish trend. Prices have broken through the area between the signal lines up, which indicates pressure from buyers of the asset and a potential continuation of the growth of the stock index on the market already from current levels. At the time of the publication of the forecast, the index is trading at the level of 34488. At the moment, we should expect an attempt to develop a correction and test the support level near the area of 33805. Where should we expect a rebound upwards and a continuation of the rise in Dow Jones quotes to the area above the level of 36655.
Dow Jones Index Forecast and Analysis March 22, 2022
An additional signal in favor of the growth of stock index quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the Triangle model. Cancellation of the growth option for the index quotes will be a fall and a breakdown of the 31805 area. This will indicate a breakdown of the support level and a continued fall in the Dow Jones index quotes with a target below the level of 30505. Expect an acceleration in the growth of the stock index quotes with a breakdown of the resistance area and closing quotes above the 35605 area, which will indicate a breakdown of the upper boundary of the descending channel.
Dow Jones Index Forecast and Analysis March 22, 2022 suggests an attempt to test the support level near the area of 33805. Then, continued growth to the area above the level of 36655. In favor of the growth of Dow Jones quotes, a test of the trend line on the relative strength index (RSI) will come out. Cancellation of the rise option will be a fall in the value of the index and a breakdown of the 31805 area. This will indicate a continued decline with a target below the 30505 area.
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