US Wall Street 30 Bounces as Bulls Buy the Dips above Level 25000

Key Resistance Zones: 28500, 29000, 29500
Key Support Zones: 26000, 25500, 25000

US Wall Street 30 (US30USD) Long-term Trends: Bullish
US Wall Street 30 index is in an uptrend. The index rose to the high of level 27583. At the recent high the index fell to level 25000 low. A correction candle body tested the Fibonacci 0.618 retracement level. This indicates that the index’s first target will be at the 1.618 extension level. Later, the uptrend will resume after the first target.

Daily Chart Indicators Reading:
The SMAs have a bullish crossover as the 21-day SMA crosses over the 50-day SMA indicating an upward move. The price has fallen to level 48 of the RSI period 14. At the moment, the index is in the downtrend zone and below the centerline 50.


US Wall Street 30 (US30USD) Medium-term Trend: Bullish
On the 4-hour chart, the index is in an ascending channel. US30USD reached a high of  level 27500. The market fell after testing the resistance line of the ascending channel. The price also broke the support line as the index finds support at level 25000.

4-hour Chart Indicators Reading
The index fell as it reached the oversold region.US30USD is now below 20% range of the daily stochastic. Buyers are certainly likely to emerge to push prices upward. The SMAs are still sloping upward.

General Outlook for US Wall Street 30 (US30USD)
US30USD index is an uptrend. As the market reached the oversold region, buyers are likely to emerge. The index finds support above 25000, and price will rise if the support holds.


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