US Wall Street 30 (US30USD) Resumes Uptrend, Approaches Overbought Region

US Wall Street 30 (US30USD) Resumes Uptrend, Approaches Overbought Region

Key Resistance Zones: 33000, 33500, 34000
Key Support Zones: 26000, 25500, 25000

US Wall Street 30 (US30USD) Long-term Trend: Bearish
US Wall Street 30 is in an upward move. The index fell to level 30000 and resumed upward. The price has broken above the SMAs. There is a likelihood of a price rise.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMA are sloping upward. The index has fallen to level 37 of the Relative Strength period 14. The market is in a downtrend zone and it is below the centerline 50.

US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On the 4-hour chart, the index is in a downward move. On January 29 downtrend; a retraced candle tested the 88.6% Fibonacci retracement level. The retracement indicates that the index is likely to reach level 1.1129 Fibonacci extension or the low of 30963.70. At his level, the market is expected to reverse and return to 78.6% Fibonacci retracement where it originated.

US30USD 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is below the 20 % range of the daily stochastic. This indicates that the market is in a bearish momentum. The index has reached the oversold region of the market. The SMAs are sloping downward indicating the downtrend.

General Outlook for US Wall Street 30 (US30USD)
US30USD index is in an upward move. The index fell to level 29800 and commenced an upward move. The current uptrend has reached level 31100.


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Author : Azeez Mustapha

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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.