US Wall Street 30 Is in an Uptrend as It Targets Level 33202

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

US Wall Street 30 (US30USD) Long-term Trends: Bullish
US Wall Street 30 is in an uptrend as it targets level 33202. The index is retracing after reaching the high of level 31600. Further upward movement of prices is likely, though, US30USD is trading in the overbought region. Meanwhile, on October 5 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that US30USD will rise to level 2.618 Fibonacci extension or level 33202.70.

https://learn2.trade/us-wall-street-is-making-lower-highs-and-lower-lows-as-it-holds-above-50563
US30USD –Daily Chart

US Wall Street 30 Daily Chart Indicators Reading:
The Relative Strength Index for period 14 has US30USD at level 60. It suggests that the index is in the uptrend zone and could rise above current levels. The index price is above the lines of the moving averages, suggesting a potential rise.

US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On the 4-hour chart, US30USD is in an uptrend. The index price is characterized by a series of higher highs and higher lows. Presently, the index is retracing as it reaches the overbought region at level 31600. The uptrend will resume after the initial resistance is breached.

US Wall Street 30 Is in an Uptrend as It Targets Level 33202
US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is above the daily stochastic’s 80% range. It shows that the market has crossed into the overbought zone. Bullish exhaustion has been reached in the uptrend. The upswing is indicated by the upward-rising 21-day SMA and 50-day SMA.

General Outlook for US Wall Street 30 (US30USD)
US Wall Street 30 is in an upward trend as it targets level 33202.
If the price stays above the moving average lines, the uptrend will continue. It is anticipated that the upward trend would break through levels 32645 and 33441.

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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.