US Wall Street 30 (US30USD) Falls After Retesting Level 31200 Twice

US Wall Street 30 (US30USD) Falls After Retesting Level 31200 Twice

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. Presently, the index is falling after reaching level 31200. The price has fallen and it is testing the 21-day SMA. The index will resume upward if the current support holds.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping upward. The index has risen to level 56 of the Relative Strength period 14. The price is in an uptrend zone and it is above the centerline 50.

US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On the 4-hour chart, the index is in a downward move. The price tested the 31200 resistance twice before resuming downward. On January 15 downtrend, a retraced candle tested the 61.8% Fibonacci retracement level. The retracement indicates that the index is likely to reach level 1.618 Fibonacci extension or the low of 30283.80.

US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is below the 20 % range of the daily stochastic. This indicates that the market is in bearish momentum. The index has reached the oversold region of the market. The SMAs are sloping upward indicating the previous uptrend.

General Outlook for US Wall Street 30 (US30USD)
US30USD index is in a downward move. The downtrend was confirmed as price retested the resistance at 31200 twice. According to the Fibonacci tool, the market will fall and reach level 1.618 extensions or level 30283.80.


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

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Author : Azeez Mustapha

Avatar

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