Stock index Dow Jones continue to move within the correction and the downward channel. At the time of publication of the forecast, the index is trading at the level of 25178. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to grow and test the resistance level near the area of 24755. 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 24455.
Dow Jones Index Forecast and Analysis May 31, 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 upper boundary of the downward channel. Cancellation of the option of falling index quotations will be a strong growth and a breakdown of the area of 25805. 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 26205. Waiting for confirmation of the drop in quotations Dow Jones stands with the breakdown of the support area and closing below 24825.
Dow Jones Index Forecast and Analysis May 31, 2019 implies an attempt to test the upper boundary of the channel near the area of 24755. Then the continuation of falling to the area below the level of 24455. 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 of 25805. This will indicate a continuation of the rise with a target above the level of 26205.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link