US Wall Street 30 (US30USD) Breaks Resistance at 27000, Resumes Uptrend

US Wall Street 30 (US30USD) Breaks Resistance at 27000, Resumes Uptrend

Key Resistance Zones: 28500, 29000, 29500
Key Support Zones: 26000, 25500, 25000

US Wall Street 30 (US30USD) Long-term Trends: Bullish
The index was fluctuating between levels 25000 and 27000 since June 10. However, the sideways move has been broken as price breaks the resistance line. It indicates that the market will rise. The price is likely to reach level 28000.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping sideways. The price has risen to level 65 of the RSI period 14. The market is in an uptrend zone and it is above the centerline 50.

US Wall Street 30 (US30USD) Medium-term Trend: Bullish
On the 4-hour chart, the index has resumed an upward move. In the August 6 uptrend, a red candle body tested the 0.618 Fibonacci retracement level. This candle body explains that the market will rise and reach  level 1.618 Fibonacci extension level. In other words, price reach level 27600.

US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is above 75 % range of the daily stochastic. This indicates that the market is in a bullish momentum. The SMAs are sloping upward indicating the uptrend.


General Outlook for US Wall Street 30 (US30USD)
US30USD index is now trending as price breaks the resistance line. According to the Fibonacci tool, the market will reach a high of 27600. At that level, a further upward move will unfold.



Note: Learn2Trade.com 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


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