US Wall Street 30 Reverses above Level 32000, Targets Level 35000

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

US Wall Street 30 (US30USD) Long-term Trend: Bearish
US30USD is in a downtrend but targets level 35000. There is a bullish pin bar indicating the reversal of the bearish trend. Presently, the upward move is facing an initial resistance at level 34000. Meanwhile, on February 25 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the index will rise to level 1.618 Fibonacci extension or level 35134.

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 but there is a possible reversal. The 21-day line and 50–day line 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 an upward move. The index price has broken above the moving averages indicating a possible upward move. Meanwhile, on February 27 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the index will rise to level 1.618 Fibonacci extension or level 35134.0.

4-hour Chart Indicators Reading
The index is above the 80% range of the daily stochastic. It is approaching the overbought region. The upward move has resumed. The 21-day SMA and the 50-day SMA are sloping upward indicating the uptrend.

General Outlook for US Wall Street 30 (US30USD)
US Wall Street 30 is in an upward move but targets level 35000 . On the daily chart, the uptrend will resume if price breaks above the moving averages. However, the upward move may face resistance as the market reaches the overbought region.

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