US Wall Street 30 (US30USD) Is in an Uptrend , Targets Level 29521

19 October 2020 | Updated: 19 October 2020

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 a sideways move below level 29000. The price level is at level 29000 and has not been broken since September 2. Presently, the market is falling after rejection at the overhead resistance.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping upward. The price has risen 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. A retraced candle body tested the 61.8% Fibonacci retracement. This indicates that the index will reach a high of 1.618 Fibonacci extensions. That is a high of 29521.

US30USD – 4 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. 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 is fluctuating upward. Presently, it is facing rejection at level 29000. According to the Fibonacci tool analysis, the index will reach a high of 1.618 extension or level 29521.



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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.