US Wall Street 30 Is in the Bullish Trend Zone, May Retest Level 36400

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

US Wall Street 30 (US30USD) Long-term Trend: Bullish
On January 24, US30USD plunged to level 33150  as it may retest level 36400. The index has corrected upward to reach the high of level 35361.04. Presently, the index is facing rejection at the 21-day line moving average. The uptrend will resume if price breaks above the moving averages. US Wall Street will retest the previous high of level 36400. The index will decline if it turns down from the recent high.

US Wall Street 30 Is in the Bullish Trend Zone, May Retest Level 36400
US30USD – Daily Chart

US Wall Street 30 Daily Chart Indicators Reading:
US Wall Street 30 is at level 50 of the Relative Strength Index for period 14. This indicates that there is a balance between supply and demand. The Index price has broken above the moving averages at the time of writing. There is a tendency for a further upward movement of the index. The 21-day and 50 –day SMAs are sloping horizontally indicating the sideways trend.


US Wall Street 30 (US30USD) Medium-term Trend: Bullish
On the 4-hour chart, US30USD is in an uptrend as price breaks above the moving averages. The current uptrend has been trading in the overbought region since January 31.

 US Wall Street 30 Is in the Bullish Trend Zone, May Retest Level 36400
US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is above the 80% range of the daily stochastic. The index is trading in the overbought region of the market. The index price is above the 21-day SMA and the 50-day SMA indicating a further upward move.

General Outlook for US Wall Street 30 (US30USD)
US Wall Street 30 is in a bullish momentum as it may retest level 36400. The index is likely to rise and retest the overhead resistance at level 36400. The overhead resistance has not been broken convincingly since November 8.

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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.