Stock index Dow Jones continue to move in the framework of the decline and the downward channel. At the time of the publication of the forecast, the index is trading at 24981. Moving averages indicate a bearish trend. At the moment, we can expect growth and a test of the resistance level near the area of 25295. 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 24065.
Dow Jones Index Forecast and Analysis June 5, 2019
In favor of the fall of the stock index quotes, a test of the resistance line on the indicator of relative strength index (RSI) will be made. The second signal will be a rebound from the upper boundary of the bearish channel. Cancellation of the option of falling index quotations will be a strong growth and a breakdown of the area of 25675. This will indicate a breakdown of the upper boundary of the channel and continued growth of Dow Jones with a target above 26265. Wait for Dow Jones to accelerate the fall of quotations with the breakdown of the support area and closing below 24645.
Dow Jones Index Forecast and Analysis June 5, 2019 suggests an attempt to test the upper boundary of the channel near the area of 25295. Then, the continuation of the fall to the area below the level of 24065. The test of the trend line on the relative strength index (RSI) will be in favor of the Dow Jones quotes drop. The cancellation of the reduction option will be a strong growth and the breakdown of the area of 25675. This will indicate a continuation of the rise with a target above the level of 26265.
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