The stock index Dow Jones ends the trading week near the level of 26452. The index is trading above the upper limit of the Ichimoku Kinko Hyo Cloud, which indicates the presence of an upward trend in Dow Jones. At the beginning of the trading week of 8 — 12, 2018, a test of the Ichimoku Kinko Hyo signal line region is expected near the level of 26200, from which one can expect an attempt to rebound and further development of the upward movement in order to grow near the 27560 area.
Dow Jones weekly forecast & analysis October 8 — 12, 2018
An additional signal in favor of growth of quotations of the stock index will be a test of the support level, as well as a rebound from the lower border of the upward channel. Earlier, a signal of average strength was received for buy of the Dow Jones stock exchange index, due to the crossing of signal lines at the level of 24600.
Cancellation of the growth of quotations of the stock index will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 25100, which will indicate a change in the upward trend in favor of a downward trend and a further decline. Expect to accelerate the growth of quotations of the Dow Jones stock index stands with the breakdown of the resistance area and closing above the level of 26950.
Dow Jones weekly forecast & analysis October 8 — 12, 2018 involves an attempt to test the level of support near the 26200 area, from which we can expect a rebound and continued growth of the index quotes with a potential target near the level of 27560.
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