US Wall Street 30 Is in an Uptrend as It Targets Level 35400

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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
The US Wall Street 30 index is in an upward trend as it targets level 35400. The present bullish activity has reached the overbought zone. The index is being rejected at its most recent high. As a result, after reaching a peak of level 33771, the index turned around. On the upswing of October 31, a retraced candle body tested the 78.6% Fibonacci retracement line. The retracement predicts that the US30 USD will rise before turning around at level 34142.60, or the 1.272 Fibonacci extensions.

US Wall Street 30 Is in an Uptrend as It Targets Level 35400
US30USD – Daily Chart

US Wall Street 30 Daily Chart Indicators Reading:
On the Relative Strength Index for period 14, the US30 USD is at level 65. Given that it is in the uptrend zone, the index could rise over its current levels. The index price is above the lines representing the moving averages, suggesting a potential increase.

US Wall Street 30 (US30USD) Medium-term Trend: Bullish
The 4-hour chart for the US30USD shows an upward trend. The index has attained Level 33771.90. The current high is facing rejection at the recent high. Bullish weariness has been reached in the present move. Or to other words, the market has become overbought.

US Wall Street 30 Is in an Uptrend as It Targets Level 35400
US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
For US30USD, the daily stochastic is above level 80. As sellers started to materialize, it looks like the market had overbought. The 50-day SMA and rising 21-day SMA both point northward, indicating an uptrend.

General Outlook for US Wall Street 30 (US30USD)
The US Wall Street 30 is rising and is getting close to level 34275. The index is approaching its previous high, reached on August 16. The downtrend resumed after the index was rejected during August’s price movement at the level of 34275 high.

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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.