US Wall Street 30 Approaches Overbought Region at Level 34275

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Key Resistance Zones: 35000, 35500, 36000
Key Support Zones: 27000, 26500, 26000

US Wall Street 30 (US30USD) Long-term Trends: Bullish
US Wall Street 30 is in an uptrend as it rallied to the overbought region at level 34275. The overbought zone has been achieved by the current bullish action. At its most recent high, the index is experiencing rejection. As a result, the index reversed after hitting a high of level 32951. A retraced candle body tested the 78.6% Fibonacci retracement line on October 31 upswing. According to the retracement, the US30 USD will increase before turning about at the 1.272 Fibonacci extension, or level 34048.30.

US Wall Street 30 Approaches Overbought Region at Level 34275
US30USD – Daily Chart

US Wall Street 30 Daily Chart Indicators Reading:
US30USD is at level 61 on the Relative Strength Index for period 14. The index may increase above present levels because it is in the uptrend zone. The index price is above the moving averages’ lines, pointing to possible growth.

US Wall Street 30 (US30USD) Medium-term Trend: Bullish
The 4-hour chart for the US30USD shows an upward trend. Buyers were again repulsed at level 32900 resistance zone, ending the bullish surge. The index has currently dropped below the moving average lines. As buyers start to appear, the fall has hit the oversold area.

US Wall Street 30 Approaches Overbought Region at Level 34275
US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
The daily stochastic is above its 25% range for US30USD. Earlier, the index dropped to the oversold area of the market. There are more buyers now, which will raise prices. The increasing 21-day SMA and 50-day SMA point to an upturn in the market.

General Outlook for US Wall Street 30 (US30USD)
As it nears level 34275, the US Wall Street 30 is on the rise as it reaches the overbought region at Level 34275. The index is getting close to its prior peak of August 16. The index was rejected during the month of August’s price movement at the level 34275 high, which indicated that the downtrend had resumed.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.