US Wall Street 30 Reaches the Oversold Region, Consolidates above Level 33450

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

US Wall Street 30 (US30USD) Long-term Trend: Ranging
US30USD is in a sideways move but consolidates above level 33450. Presently, it is in a downward move as bulls fail to break the resistance at level 36500. The bulls retested the resistance level on two occasions but were repelled. The bears break below the moving averages as the downtrend resumes. Meanwhile, on January 24, downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the index will fall to level 1.618 Fibonacci extension or level 30845.50.

US Wall Street 30 Daily Chart Indicators Reading:
US Wall Street 30 is at level 44 of the Relative Strength Index for period 14. The index is in the downtrend zone and capable of a further downward move. The 21-day and 50 –day SMAs are sloping horizontally indicating the sideways trend. The index price bars are below the moving average indicating a possible downward move.


US Wall Street 30 (US30USD) Medium-term Trend: Bullish
On the 4-hour chart, US30USD is in a downward move. The index has fallen significantly after breaking below the moving averages. Meanwhile, on February 14 downtrend, a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the index will fall to level 1.618 Fibonacci extension or level 33345.40.

4-hour Chart Indicators Reading
The index is above the 25% range of the daily stochastic. The index is out of the oversold region as buyers emerge. The upward move has resumed. The 21-day SMA and the 50-day SMA are sloping southward indicating the downtrend

General Outlook for US Wall Street 30 (US30USD)
US Wall Street 30 is in a downward correction but consolidates above level 33450. As the index reaches the oversold region of the market, the downtrend is not likely to continue. Since February 21, the downtrend has eased as price consolidated above level 33450.

You can purchase crypto coins here: Buy LBlock:

Note: Learn2Trade 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