US Wall Street 30 (US30USD) Is in an Upward Move, Faces Rejection at Level 31200

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 is in an upward move. The index has reached level 31145.30. 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 1.272 Fibonacci extensions. That is the high of 31107.40.

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping upward. The index has risen to level 69 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. The upward move is facing rejection at level 32000. The index fell to level 30800 and resumed upward. The price is rising to retest the resistance level at 31200.

4-hour Chart Indicators Reading
US30USD is above the 80 % range of the daily stochastic. This indicates that the market is in bullish momentum. The index has reached the overbought region of the market. 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 is presently facing rejection at level 31200. According to the Fibonacci tool, the market will rise and reverse at level 1.272 extensions or level 31107.40.


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