Stock index Dow Jones continue to move within the framework of growth and have left the limits of the downward trend. 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 34606. At the moment, we should expect an attempt to develop a correction and test the support level near the 34005 area. Where should we expect a rebound upwards and the Dow Jones quotes continue to rise to the area above the level of 37055.
Dow Jones Index Forecast and Analysis March 29, 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 descending channel. Cancellation of the growth option for the index quotes will be a fall and a breakdown of the 32805 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 30905. Expect an acceleration in the growth of the stock index quotes with a breakdown of the resistance area and closing quotes above the 35455 area, which will indicate a breakdown of the upper boundary of the descending channel.
Dow Jones Index Forecast and Analysis March 29, 2022 suggests an attempt to test the support level near the area of 34005. Then, continued growth to the area above the level of 37055. 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 32805 area. This will indicate a continued decline with a target below the 30905 area.
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