US Wall Street 30 (US30USD) Is in an Uptrend, Approaches the Overbought Region

Updated:

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

US Wall Street 30 (US30USD) Long-term Trend: Bullish
US30USD index is in an uptrend as it approaches the overbought region. The index has risen and it is approaching to break above the previous high of level 36500. Meanwhile, on December 13 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the US30USD price will rise to level 2.0 Fibonacci extension or level 38254.20 .

US Wall Street 30 (US30USD) Is in an Uptrend, Approaches the Overbought Region
US30USD – Daily Chart

US Wall Street 30 Daily Chart Indicators Reading:
US30USD is at level 61 of the Relative Strength Index for period 14. It indicates that the market has reached the bullish trend zone. The index is above the centerline 50. The price bars are above the moving averages indicating that the prices are likely to rise. 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 is in an upward move. The bulls are attempting to break above the resistance at 36500. Meanwhile, on December 13 uptrend; a retraced candle body tested the 61.8 % Fibonacci retracement level. The retracement suggests that the US30USD price will rise to level 1.618 Fibonacci extension or level 37174.0.

US Wall Street 30 (US30USD) Is in an Uptrend, Approaches the Overbought Region
US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US Wall Street 30 is above the 80% area of the daily stochastic. The index is in the overbought region of the market. Sellers are likely to emerge in the overbought region of the market. The price bars are above the 21-day SMA and the 50-day SMAs indicating a possible rise of the index. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

General Outlook for US Wall Street 30 (US30USD)
US Wall Street 30 is in an uptrend as it approaches the overbought region . The index is retesting to break the resistance at level 36500. The index has reached an overbought region of the market.

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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.