Stock index Dow Jones continue to move within the fall and were able to leave the rising channel. At the time of the publication of the forecast, the index is trading at 25799. Moving averages indicate a downward trend. At the moment, we should expect an attempt to grow and test the resistance level near the area of 25885. Where should we expect a rebound and the continuation of the fall of the Dow Jones stock index quotes to the area below the level of 24965.
Dow Jones Index Forecast and Analysis May 22, 2019
In favor of falling stock index quotes, a test of the bearish trend line on the indicator will appear. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling index quotations will be a strong growth and a breakdown of the 26235 area. This will indicate a breakdown of the upper boundary of the channel and continued growth of Dow Jones with a target above the level of 26805. Waiting for confirmation of the drop in quotations Dow Jones stands with the breakdown of the support area and closing below 25555.
Dow Jones Index Forecast and Analysis May 22, 2019 suggests an attempt to test the lower boundary of the channel near the area of 25885. Then the continuation of falling to the area below the level of 24965. The test of the trend line on the relative strength index (RSI) will be in favor of the Dow Jones quotes drop. Cancellation of the reduction option will be a strong growth and the breakdown of the area 26235. This will indicate a continuation of the rise with a target above the level of 26805.
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