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 26943. Quotes continue to grow, but there is potential for the formation of the «Right Leverage» model. Moving averages indicate a bullish trend in the index. At the moment, we should expect an attempt to continue the growth of quotations and a test of the resistance level near the area of 27145. Further, a rebound and a continued fall of quotations of the Dow Jones stock index in the region below the level of 25435 are expected.
Dow Jones Index Forecast and Analysis September 12, 2019
In favor of reducing the quotes of the stock index on September 12, 2019, a test of the downward resistance line on the relative strength index (RSI) will be made. 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 continuation of the rise of the Dow Jones with a target above the level of 28045. Expect acceleration of the fall of the Dow Jones quotes with the breakdown of the support area and closing below 26405.
Dow Jones Index Forecast and Analysis September 12, 2019 suggests an attempt to test the resistance level near the area of 27145. Then, a 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 be in favor of reducing the 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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