US Wall Street 30 (US30USD) Continues to Rally, Targets Level 29073.90

US Wall Street 30 (US30USD) Continues to Rally, Targets Level 29073.90

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

US Wall Street 30 (US30USD) Long-term Trends: Bullish
The index has resumed an upward move since October 31. It rose from level 26300 to $28300. Presently, it is facing resistance at the recent high. In the previous uptrend, the upward move is being terminated at level 28800. Bearish signals are shown as a result of the current rejection.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping upward. The price 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 an upward move. On November 4 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. This indicates that the index will rise and reach a level of 1.618 Fibonacci extensions. That is the index will reach level 29073.90.

US30USD – 1 Hour Chart

4-hour Chart Indicators Reading
US30USD is above the 50 % range of the daily stochastic. This indicates that the market is in a bullish momentum. The SMAs are sloping upward indicating the previous uptrend.

General Outlook for US Wall Street 30 (US30USD)
US30USD index has been in an upward move since October 31. The price has reached level 28384 at the time of writing. According to the Fibonacci tool, the index will rise and reach level 1.618 Fibonacci extension or 29073.90.


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 result

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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.