Stock index Dow Jones continue to move within the framework of the correction and the formation of the «Triangle» model. At the time of the publication of the forecast, the index is trading at 25635. 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 25765. Where can we expect a rebound and the continuation of the fall of the Dow Jones stock index quotes to the area below the level of 24395.
Dow Jones Index Forecast and Analysis May 28, 2019
In favor of falling stock index quotes, a test of the downward trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the lower boundary of the rising 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 lower 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 25055.
Dow Jones Index Forecast and Analysis May 28, 2019 implies an attempt to test the lower boundary of the channel near the area of 25765. Then, the continuation of falling to the area below the level of 24395. In favor of falling of the Dow Jones quotes, a test of the trend line on the relative strength index (RSI) will come out. 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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