Annual Forecast for US Wall Street 30 ( (2021): US30USD Expects Recovery in Earnings at Some Point in Time, in 2021 or 2022

Annual Forecast for US Wall Street 30 ( (2021): US30USD Expects Recovery in Earnings at Some Point in Time, in 2021 or 2022

Key Resistance Zones: 30500, 31000, 31500
Key Support Zones: 26000, 25500, 25000

In 2020, US Wall Street 30 has an opening balance of 28595.20 in January. The index tested the resistance at level 28000 and was repelled. In the first quarter, the market fell to the low of 18213.50 and immediately corrected upward. In other words, the bulls buy the dips as the index resumed a fresh uptrend.

As of April, the uptrend commenced and reached a high of 28807 and was resisted. There was a breakdown in September and October. However, the resistance was breached in November as the index continued with the upward move. Today, the market has reached a high of level 30408.50 at the time of writing.

US30USD – Monthly Chart

US Wall Street 30 (US30USD) Price Predictions: Monthly Chart
The uptrend is represented with a bullish trend line. The uptrend will continue as long as the trend line remains unbroken. The price is above the SMAs which suggests an upward movement of the index.

US30USD – Weekly Chart

US Wall Street 30 (US30USD) Price Predictions: Weekly Chart
The market is in an upward move but characterized by a small-bodied candlestick called Doji. A bullish trend line is drawn showing the support levels of price. The bullish trend line will remain unbroken as long as the trend is ongoing. The uptrend will terminate once the trend line is broken.

Conclusion
Following the recent breakdown in the first quarter, the index has recovered at the time of writing. There is a high probability of the stock market rising in 2021. Despite this year’s sharp sell-off, some stocks have gotten some gains.


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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.