Dow Jones continues to move as part of the fall and left the bullish channel. Moving averages indicate a short-term bearish trend. Prices broke through the area between the signal lines downward, which indicates pressure from the sellers of the asset and a potential continuation of the fall of the stock index in the market from the current levels. At the time of the publication of the forecast, the index is trading at 33976. At the moment, we should expect an attempt to develop a rise and test the resistance level near the 34347 area. Where can we expect a rebound and the continuation of the fall in Dow Jones quotes to the area below the level of 32055.
Dow Jones Index Forecast and Analysis September 23, 2021
An additional signal in favor of reducing the stock index quotes will be a test of the downward resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option of falling index quotes will be a strong growth and a breakdown of the 34755 area. This will indicate a breakdown of the resistance level and continued growth of the Dow Jones index quotes with a target above 35405. Expect an acceleration in the fall in stock index quotes with the breakdown of the support area and closing of quotations below the 33405 area.
Dow Jones Index Forecast and Analysis September 23, 2021 suggests an attempt to test the resistance level near the 34347 area. Then, the continuation of the fall to the area below the level of 32055. In favor of the fall in 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 in the value of the index and a breakdown of the 34755 area. This will indicate a continued rise with a target above the 35405 area.
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