US Wall Street 30 (US30USD) In a Sideways Trend, Battles the Resistance at Level 35000

7 July 2021 | Updated: 7 July 2021

Key Resistance Zones: 34000, 34500, 35000
Key Support Zones: 27000, 26500, 26000

US Wall Street 30 (US30USD) Long-term Trend: Bullish
US Wall Street 30 is in an uptrend. The upward move is hindered at the resistance of level 35000. Since May 10, the index has been trading below the overhead resistance. On July 5 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the market will rise to level 1.272 Fibonacci extension or level 35372.0 and reverse.

US30USD – Daily Chart

Daily Chart Indicators Reading:
US Wall Street 30 has risen to level 54 of the Relative Strength Index period 14. It indicates that the index is in an uptrend zone. The 21-day and 50 –day SMAs are sloping upward indicating the uptrend.

US Wall Street 30 (US30USD) Medium-term Trend: Bullish
On the 4-hour chart, the index has resumed its upward move. US30USD is still struggling below level 35000 overhead resistance. On July 6 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the market will rise to level 2.0 Fibonacci extension or level 35572.50.

US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is above the 25% range of the daily stochastic. It indicates that the market is in a bullish momentum. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

General Outlook for US Wall Street 30 (US30USD)
US30USD is in an uptrend. The index is still battling to break the resistance at 35000. The market has resumed a fresh upward move after the retracement. US30USD will rally above level 35500 if the resistance is breached.


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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.