US Wall Street 30 Is in a Tight Range, Attempts to Break Level 26400

US Wall Street 30 Is in a Tight Range, Attempts to Break Level 26400

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

US Wall Street 30 (US30USD) Long-term Trends: Ranging
US Wall Street 30 index is currently in a sideways move since June 10. The index fell to the low of level 26918 and resumed consolidation above the current support. The index has not been trending after the last break down. The price action indicates a bullish signal. The market has been characterized by small body candlesticks.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping sideways. It indicates that US30USD 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: Ranging
On the 4-hour chart, the index has been fluctuating between levels 24800 and 26400. The levels have not been broken for the past month. In the meantime, the index is rising after reaching a low of 25600. The market is expected to rise to level 26400.

US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is now above 40 % range of the daily stochastic. This indicates that the market is in a bullish momentum. The SMAs are sloping sideways indicating the sideways trend. The price is approaching the upper price range to break the resistance at level 26400. The sideways move will continue if the bulls fail to breach the resistance at level 26400.

General Outlook for US Wall Street 30 (US30USD)
US30USD index has been consolidating sideways for the past month. The index has been trapped within the price range. Neither the bulls nor the bears have broken the range-bound levels. The price is now approaching the resistance at level 26400. A break above the resistance will propel index to rally above level 26800.


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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