Stock index Dow Jones continue to move as part of the growth and formation of the «Head and Shoulders» reversal pattern. At the time of the publication of the forecast, the index is trading at 26773. Moving averages indicate the presence of a bullish trend in the index. At the moment, we should expect an attempt to correct the quotes and test the support level near the area of 26905. Further, a rebound and a continued decline in the quotes of the Dow Jones index in the region below 25435 are expected.
Dow Jones Index Forecast and Analysis September 11, 2019
In favor of lowering the quotes of the stock index on September 11, 2019, a test of the downward resistance line on the relative strength index (RSI) will come out. The second signal will be a rebound from the resistance area. Cancellation of the option of dropping the quotes of the index will be a strong growth and a breakdown of the area of 27465. This will indicate a breakdown of the resistance level and the continued rise of the Dow Jones with a target above the level of 28045. Expect an acceleration of the fall of the Dow Jones quotes with the breakdown of the support area and closing below 26355.
Dow Jones Index Forecast and Analysis September 11, 2019 suggests an attempt to test the resistance level near the area of 26905. Then, the continuation of the fall to the area below the level of 25435. A test of the trend line on the relative strength index (RSI) will speak in favor of lowering Dow Jones quotes. Cancellation of the fall option will be a strong growth and the breakdown of the area of 27465. This will indicate a continuation of the rise with the target above the level of 28045.
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