US Wall Street 30 Breaks Level 31218 as It Targets Level 29797

Updated:

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

US Wall Street 30 (US30USD) Long-term Trend: Bearish
US30USD is in a downward move as it targets level 29797. The index fell to the low of level 31218.80 on May 12. On May 13, the index corrected upward which was repelled at the recent high. The selling pressure has resumed as the index approaches the current support. Meanwhile, on May 2 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the index will fall to level 2.0 Fibonacci extension or level 32596.60.

US Wall Street 30 Breaks Level 31218 as It Targets Level 29797
US30USD – Daily Chart

US Wall Street 30 Daily Chart Indicators Reading:
The index has fallen to level 39 of the Relative Strength Index for period 14. The index has been trading in the downtrend zone as the market resumes selling pressure to the downside. The 21-day SMA and the 50-day SMA are sloping downward indicating a downtrend.


US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On the 4-hour chart, US30USD is in a downward move. The index’s price is making a series of lower highs and lower lows. US30USD makes an upward correction as price breaks above the moving averages. The upward correction has been repelled t 32700 as the index resumes a downward move.

US Wall Street 30 Breaks Level 31218 as It Targets Level 29797
US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is below the 50% range of the daily stochastic. The market has resumed bearish momentum. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.


General Outlook for US Wall Street 30 (US30USD)
US Wall Street 30 has been in a downward correction as it targets level 29797.. The upward correction has been terminated at level 32695 as the market resumes downward.

You can purchase crypto coins here: Buy LBlock


Note: Learn2Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing result

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

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.