US Wall Street 30 (US30USD) Is in an Uptrend, Struggles to Break Level 30000

US Wall Street 30 (US30USD) Is in an Uptrend, Struggles to Break Level 30000

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 is trading below level 30000. On November 10 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the index will rise and reverse at level 1.272 Fibonacci extensions. That is the high of level 31114.40.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping upward. The index has risen to level 62 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 ward move. On November 24 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. This indicates that the index is likely to rise and reach level 1.618 Fibonacci extensions. That is the high of 30884.70.

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 a bullish momentum. The SMAs are sloping upward indicating the previous uptrend.


General Outlook for US Wall Street 30 (US30USD)
US30USD index is an upward move. It is struggling to break level 30000. According to the Fibonacci tool, the market will rise and reverse at level 1.272 extension or level 31114.40.


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.