US Wall Street 30 Is in a Slump as It Targets the Low of Level 32280.90

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

US Wall Street 30 (US30USD) Long-term Trends: Bearish
The US Wall Street 30 is in a slump as it targets the low of level 32280.90. The index has plummeted to the low of level 32547. Sellers are seeking to breach below the moving average lines to increase selling pressure. On December 6, the index reversed its downward trend and a candle body tested the 50% Fibonacci retracement level. The correction predicts that US30USD will fall to level 2.0 Fibonacci extension or level 32,280.90.

US Wall Street 30 Daily Chart Indicators Reading:
The US30USD is trading at level 41 on the Relative Strength Index for period 14. The index has entered the downtrend zone, which will lead to additional selling pressure. The price bars are below the moving average lines, indicating that the index is falling. Moving average lines slant northward, reflecting a past trend.

US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On the 4-hour chart, the US30USD is in a downtrend zone. On December 16, the index fell and found support above the 32613.60 mark. The index resumed consolidation above the present support. The latest decline has approached the market’s oversold zone. If the current support holds, the selling pressure will be relieved.

4-hour Chart Indicators Reading
US30USD has touched the oversold territory below level 20 of the daily stochastic. The selling pressure will ease as buyers materialize in the market’s oversold territory. The 21-day and 50-day simple moving averages are trending southward, indicating a decline.

General Outlook for US Wall Street 30 (US30USD)
The US30USD bearish move has hit the oversold region as it targets the low of level 32280.90. The bearish trend has subsided since December 16, as the index consolidates above the present support. According to the price indicator, the market will reach the low of level 32280.90


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