Stock index Dow Jones continue to move as part of a strong fall and a downward channel. At the time of the publication of the forecast, the index is trading at 18731. Moving averages indicate a bearish trend on the index. At the moment, we should expect an attempt to develop a correction of quotations and a test of the resistance level near the area of 19655. Further, a rebound and a continued decline in the quotes of the Dow Jones stock index in the region below the level of 15450 is expected.
Dow Jones Index Forecast and Analysis March 24, 2020
In favor of the fall in the quotations of the stock index on March 24, 2020, a test of the downward support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling index quotes will be a strong growth and a breakdown of the area of 21650. This will indicate a breakdown of the resistance level and continued growth of the Dow Jones with a target above the level of 21955. Expect an acceleration of the fall of the Dow Jones quotes with the breakdown of the support area and closing below the level of 17265.
Dow Jones Index Forecast and Analysis March 24, 2020 suggests an attempt to test the resistance level near the area of 19655. Then, a continuation of the fall to the area below the level of 15450. A test of the trend line on the relative strength index (RSI) will be in favor of the fall in Dow Jones quotes. Cancellation of the fall option will be a strong growth and the breakdown of the area of 21650. This will indicate a continuation of the fall with a target below the level of 26855.
