US Wall Street 30 Regains Bullish Momentum as It Challenges the 33000 High

Key Resistance Zones: 31500, 32000, 32500
Key Support Zones: 26000, 25500, 25000

US Wall Street 30 (US30USD) Long-term Trends: Bullish
US Wall Street 30 is in an uptrend as it challenges the 33000 high. The index has risen to the high of level 32636.50 but it has reached the overbought region. The bulls broke the resistance  level at 32000 but it is facing rejection at the recent high. In the previous price action on May 30, the index was repelled at the 33500 resistance zone. It declined to the low of level 29740 as bulls bought the dips.

Daily Chart Indicators Reading:
US30USD is at level 64 of the Relative Strength Index for period 14. The index is in a bullish trend zone and may further rise. The price bars are above the 21-day line SMA and the 50-day line SMA indicating a further upward move. The moving average is sloping upward indicating the uptrend.


US Wall Street 30 (US30USD) Medium-term Trend: Bullish
On the 4-hour chart, the index is in an uptrend as it reached the high of level 32636. Presently, the uptrend is hindered at the recent high as the price fluctuates below the resistance level. The uptrend will be terminated if the index declines and breaks below the moving average lines.

4-hour Chart Indicators Reading
US30USD is above the 80 % range of the daily stochastic. It implies that the market has reached the overbought region. A further upward move is doubtful as the market reaches the overbought region. . The price bars are above the 21-day line SMA and the 50-day line SMA indicating a further upward move. The 21-day line SMA and the 50-day line SMA are sloping upward indicating a further upward move.


General Outlook for US Wall Street 30 (US30USD)
US30USD index is still in an uptrend but it is facing rejection at the recent high as it challenges the 33000 high. The index has reached the overbought region as it faces rejection at the recent high.

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