Us Wall Street 30 (US30USD) Is in a Downward Move After Rejection From Level 30000

Us Wall Street 30 (US30USD) Is in a Downward Move After Rejection From Level 30000

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

US Wall Street 30 (US30USD) Long-term Trends: Bearish
US Wall Street 30 uptrend terminated at level 30000. The downward move has resumed as price fell to the low at level 29232. The selling pressure will persist if the price breaks below level 28800.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping downward. The index has fallen to level 57 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: Bullish
On the 4-hour chart, the index is on a downward ward move. On November 19 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This indicates that the index is likely to fall and reverse at level 1.272 Fibonacci extensions. However, if the trend is strong the selling pressure will continue.

US30USD – 3 Hour Chart

4-hour Chart Indicators Reading
US30USD is below the 40 % range of the daily stochastic. This indicates that the market is in a bearish momentum. The SMAs are sloping upward indicating the previous uptrend.


General Outlook for US Wall Street 30 (US30USD)
US30USD index has resumed in a downward move. The previous uptrend has terminated at level 30000. The downtrend has already resumed as the market reached a low of 29232.



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.