US Wall Street 30 (US30USD) Resumes Uptrend but Faces Resistance at Level 29000

US Wall Street 30 (US30USD) Resumes Uptrend but Faces Resistance at Level 29000

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

US Wall Street 30 (US30USD) Long-term Trends: Ranging
The index is in an upward move but resumes sideways move below level 29000. The uptrend reached a high of 29200 and was resisted. The index dropped to level 26700 to resume a fresh uptrend.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping upward. The price has risen to level 61 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. The index is in an ascending channel. The US30USD is approaching level 28850. The index is in the overbought region. It may resume a downward move.

US30USD – 4 Hour Chart

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. Also, it has reached the overbought region of the market. The SMAs are sloping upward indicating the uptrend.

General Outlook for US Wall Street 30 (US30USD)
US30USD index is on an upward move. The market fluctuating upward. Presently, it is facing rejection at level 29000.


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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.