US Wall Street 30 Struggles below 32585 as It Retraces Above 32000

Updated:

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

US Wall Street 30 (US30USD) Long-term Trend: Bearish
US30USD’s price is making an upward correction as it retraces above 32000. Since April 25, the bulls have failed to break above the moving averages. On May 4, the index was repelled as they attempt to break above the moving averages. Today, the upward correction has begun. Meanwhile, on April 26 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the index will fall but reverse at level 1.272 Fibonacci extension or level 32596.60.

US Wall Street 30 Struggles below 32585 as It Retraces Above 32000
US30USD – Daily Chart

US Wall Street 30 Daily Chart Indicators Reading:
The index has fallen to level 38 of the Relative Strength Index for period 14. The index is in the downtrend zone but it is making an upward correction. The 21-day SMA and the 50-day SMA are sloping sideways indicating a sideways trend.

US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On the 4-hour chart, US30USD is in a downtrend but it consolidating
above level 31885. The selling pressure will resume if the current support is breached. Meanwhile, on May 9 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the index will fall but reverse at level 1.272 Fibonacci extension or level 31528’90.

US Wall Street 30 Struggles below 32585 as It Retraces Above 32000
US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is above the 50% range of the daily stochastic. The market has resumed bullish momentum but it is facing resistance at the 21-day line SMA. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for US Wall Street 30 (US30USD)
US Wall Street 30 is in a downward correction as it retraces above 32000. The upward move is facing rejection at the recent high of level 32584. The uptrend will resume if price breaks above the moving averages.

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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

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.