Stock index Dow Jones continue to move as part of the correction and the upward channel. At the time of the publication of the forecast, the index is trading at 26043. Moving averages indicate a bearish trend on the index. At the moment, we should expect an attempt to upward correction of quotes and a test of the resistance level near the area of 26315. Further, a rebound and a continued decline in the quotes of the Dow Jones index in the region below the level of 24575 is expected.
Dow Jones Index Forecast and Analysis September 4, 2019
In favor of reducing the quotes of the stock index on September 4, 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 falling index quotes will be a strong growth and a breakdown of the area of 26955. This will indicate a breakdown of the resistance level and continued growth of the Dow Jones with a target above the level of 27555. Expect acceleration of the fall of the Dow Jones quotes with a breakdown of the lower boundary of the rising channel and closing below 25035.
Dow Jones Index Forecast and Analysis September 4, 2019 suggests an attempt to test the resistance level near the area of 26315. Then, a continuation of the fall to the area below the level of 24575. A test of the trend line on the relative strength index (RSI) will be in favor of a decrease in Dow Jones quotes. Cancellation of the fall option will be a strong growth and the breakdown of the area of 26955. This will indicate a continuation of the rise with the target above the level of 27555.