US Wall Street 30 (US30USD) Faces Rejection at Level 30200, a Downward Move Likely

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 30863.20.

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping upward. The index has risen to level 64 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 a level of 1.618 Fibonacci extensions. That is the high of 30863.20.

4-hour Chart Indicators Reading
US30USD is above the 80 % range of the daily stochastic. This indicates that the market is in a bullish momentum. The index has reached the overbought region The SMAs are sloping upward indicating the previous uptrend.


General Outlook for US Wall Street 30 (US30USD)
US30USD index is an upward move. The index has broken level 30000. According to the Fibonacci tool, the market will rise and reverse at level 1.272 extensions or level 311863.20.



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