US Wall Street 30 (US30USD) Is in an Uptrend, Struggles Below 36400 High

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

US Wall Street 30 (US30USD) Long-term Trend: Bullish
US30USD is in an upward move but struggles below 36400 high.The index is trading in the overbought region of the market. On November 8 rejection at the overbought region, the market declined to the low of $33,951 as bulls bought the dips. US30USD corrected upward to resume a fresh uptrend. Meanwhile, on December 13 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the US30USD price will rise to level 1.618 Fibonacci extension or level 37685.

https://learn2.trade/us-wall-street-30us30usd-resumes-uptrend-targets-level-36700
US30USD – Weekly Chart

US Wall Street 30 Daily Chart Indicators Reading:
US30USD is at level 54 of the Relative Strength Index for period 14. It indicates that the market has reached the bullish trend zone. The index is capable of rising on the upside. 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 daily chart, the index is in an upward move but the price has broken below the moving averages. The market is attempting to resume upward. Meanwhile, on December 13 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the US30USD price will rise to level 1.272 Fibonacci extension or level 36731.90.

https://learn2.trade/us-wall-street-30us30usd-resumes-uptrend-targets-level-36700
US30USD – Daily Chart

4-hour Chart Indicators Reading
The market is above the 60% area of the daily stochastic. The index is in a bullish momentum. The price is below the 21-day SMA but above the 50-day SMA indicating a possible fluctuation of prices. 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 but struggles below 36400 high. The index has been fluctuating below level 36400 resistance level. The uptrend will resume if price breaks above the resistance level.

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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.