US Wall Street 30 Continues Downtrend as It Faces Resistance at Level 32216

Updated:

Key Resistance Zones: 31500, 32000, 32500
Key Support Zones: 26000, 25500, 25000

US Wall Street 30 (US30USD) Long-term Trends: Bearish
US Wall Street 30 is in a downward correction as it faces resistance at level 32216. The index will rise to level 34000 if price breaks above the moving average lines. On the other hand, if US30USD turns down from the 21-day line SMA, it will resume selling pressure. Firstly, the market will retrace to level 31026 support and later to level 30800 low.

US Wall Street 30 Continues to Downtrend as It Faces Resistance at Level 32216
US30USD – Daily Chart

Daily Chart Indicators Reading:
US30USD is at level 48 of the Relative Strength Index for period 14. The index is in the downtrend zone despite an upward correction. The price bars are below the moving average lines which indicates a further downward movement of the index. The 21-day line SMA and the 50-day line SMA are sloping downward indicating the downtrend.

US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On a Weekly chart, the index is in a downtrend. On May 16 downtrend, a retraced candle body tested the 50% Fibonacci retracement level. The retracement suggests that US30USD will fall at level 2.0 Fibonacci extension or level 25891.

US Wall Street 30 Continues to Downtrend as It Faces Resistance at Level 32216
US30USD – Weekly Chart

Weekly Chart Indicators Reading
US30USD is above the 40 % range of the daily stochastic. It implies that the index is in a bullish momentum. The 21-day line SMA and the 50-day line SMA are sloping southward indicating the downtrend.

General Outlook for US Wall Street 30 (US30USD)
US30USD is in a downtrend as it faces resistance at level 32216. The downtrend will resume if it turns down from the moving average lines.

You can purchase crypto coins here: Buy LBLOCK


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

  • 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.