US Wall Street 30 (US30USD) Falls as Buyers Face Rejection at Level 34400


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

US Wall Street 30 (US30USD) Long-term Trends: Bearish
US Wall Street 30 is in an uptrend. The first uptrend reached level 35000 and was resisted. The price retraced to level 33563.20 and resumed a fresh uptrend. The second uptrend was resisted at level 34500. Meanwhile, on May 13 downtrend, a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that US Wall St will fall at level 2.618 Fibonacci extension or level 30328.20.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping upward. The index has risen to level 50 of the Relative Strength period 14. It indicates that there is a balance between supply and demand.

US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On the 4-hour chart, the index is in a sideways trend below level 34400. The index is falling retesting level 34400. Meanwhile, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that US Wall St will rise but reverse at level 1.272 Fibonacci extension or level 34376.50. From the price action, the market has reversed.

US30USD – 3 Hour Chart

4-hour Chart Indicators Reading
US Wall St is below the 20 % range of the daily stochastic. This indicates that the market is in bearish momentum. The index has reached the oversold region of the market. The SMAs are sloping horizontally indicating the sideways move.

General Outlook for US Wall Street 30 (US30USD)
The US30USD index is in a downward move. The index is falling because the upward move is facing rejection at level 34400.
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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.