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.

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.

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.


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