US Wall Street 30 (US30USD) Is in an Uptrend but Battles Resistance at Level 31200

US Wall Street 30 (US30USD) Is in an Uptrend but Battles Resistance at Level 31200

Key Resistance Zones: 35000, 35500, 36000
Key Support Zones: 26000, 25500, 25000

US Wall Street 30 (US30USD) Long-term Trends: Bullish
US Wall Street 30 is in an upward move. The uptrend is making higher highs and higher lows. Presently, the index is facing rejection at level 31200. US30USD has fallen to level 30700 and resumed upward. The uptrend will resume if level 31200 is breached.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping upward indicating the uptrend. The index has risen to level 59 of the Relative Strength period 14. The price 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 is in an upward move. On January 19 uptrend; a retraced candle tested the 61.8% Fibonacci retracement level. The retracement indicates that the index is likely to reach level 1.618 Fibonacci extensions or the high of 31384.50.

US30USD -4 Hour Chart

4-hour Chart Indicators Reading
US30USD is above the 20 % range of the daily stochastic. This indicates that the market is in bullish momentum. The index is approaching the oversold region of the market. The SMAs are sloping upward indicating the uptrend.

General Outlook for US Wall Street 30 (US30USD)
US30USD is in an upward move. The uptrend is facing rejection at level 31200. According to the Fibonacci tool, the market will rise to level 1.618 extensions or level 31384.50.


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Author : Azeez Mustapha

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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.