US Wall Street 30 (US30USD) Ranges after Rejection at Level 28000

US Wall Street 30 (US30USD) Ranges after Rejection at Level 28000

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

US Wall Street 30 (US30USD) Long-term Trends: Bearish
The index is in an upward move. The uptrend reached a high of level 29200 and was resisted. The index dropped to level 26700 and resumed a fresh uptrend.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping upward. The price has risen to level 52 of the RSI period 14. The market is in an uptrend zone and it is above the centerline 50.

US Wall Street 30 (US30USD) Medium-term Trend: Ranging
On the 4-hour chart, the index is on a sideways move. The market fluctuates between levels 26600 and 28000. The upward move is facing rejection at the level 28000. The market will resume a downward move if it faces another rejection.

US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is above the 40 % range of the daily stochastic. This indicates that the market is in a bullish momentum. The SMAs are sloping upward indicating the uptrend. The index is in the oversold region.


General Outlook for US Wall Street 30 (US30USD)
US30USD index is on a sideways move. The market has no particular direction as it fluctuates. In recent times, the market is facing rejection at level 28000 and 28200.



Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.