Us Wall Street 30 Consolidates Above Level 25000, Faces Selling Pressure

Us Wall Street 30 Consolidates Above Level 25000, Faces Selling Pressure

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

US Wall Street 30 (US30USD) Long-term Trends: Bearish
US Wall Street 30 index is currently in a downward move. A correction candle body tested the 0.50 Fibonacci retracement level. The candle body indicates that the market will fall and reach a low of 1.618 Fibonacci extension level. After the index has reached its first target, the price action will continue.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping sideways. It indicates that the current price action is consolidating. The price has fallen to level 51 of the RSI period 14. The market is in an uptrend zone and it is above the centerline 50.

US Wall Street 30 (US30USD) Medium-term Trend: Bullish
On the 4-hour chart, the index has been trading below the resistance at level 26400. The index upward move has been resisted at level 26400. The last upward move was resisted at level 26000. The index is on a downward move.

US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is now below 60 % range of the daily stochastic. This indicates that the market is in the bearish momentum. The SMAs are sloping sideways indicating the sideways trend.

General Outlook for US Wall Street 30 (US30USD)
US30USD index is on a downward move. The market may fall as price action is indicating bearish signals. The index has been fluctuating between levels 24800 and 26400.



Note: Learn2Trade.com 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 results




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