US Wall Street 30 (US30USD) Continues Upward Move , a Reversal at Level 31205.80 Likely

US Wall Street 30 (US30USD) Continues Upward Move , a Reversal at Level 31205.80 Likely

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

US Wall Street 30 (US30USD) Long-term Trends: Bullish
US Wall Street 30 uptrend has broken above level 30000. On November 6 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. This indicates that the index is likely to rise and reverse at a level of 1.272 Fibonacci extensions. That is the high of 31205.80.

US30USD = Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping upward. The index has risen to level 65 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 in an upward move. On December 28 uptrend; a retraced candle tested the 50% Fibonacci retracement level. The retracement indicates that the index is likely to reach level 2.0 Fibonacci extension. That is the high of level 31141.0.

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 bullish momentum. The index is out of the oversold region. The SMAs are sloping upward indicating the previous uptrend.


General Outlook for US Wall Street 30 (US30USD)
US30USD index is an upward move. US Wall Street 30 has broken level 30000. According to the Fibonacci tool, the market will rise and reverse at level 1.272 extensions or level 31205.80


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.