US Wall Street 30 (US30USD) Retraces after Rejection from Level 33600

US Wall Street 30 (US30USD) Retraces after Rejection from Level 33600

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

US Wall Street 30 (US30USD) Long-term Trend: Bullish
US30USD is still in an uptrend. Nevertheless, the index has reached the overbought region of the market. In the recent uptrend of March 18, a retraced candle body tested the 78.6% Fibonacci retracement level. This retracement indicates that the market will rise to level 1.272 Fibonacci extension or the high of level 33925.80. At this level, the index will reverse to the 78.6% Fibonacci retracement level.

US30USD – Daily Chart

Daily Chart Indicators Reading:
The 21-day and the 50-day SMAs are sloping upward indicating an uptrend. The index has risen to level 67 of the Relative Strength period 14. It indicates that the index is approaching the overbought region of the market. That is, the index has limited room to rally.

US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On the 4-hour chart, the index reached the high of level 33600 and was resisted. Presently, the market is on a downward move. In the downtrend of April 6; a retraced candle body tested the 61.8% Fibonacci retracement level. This implies that US30USD will fall to level 1.618 Fibonacci extension or the low of 33326.80.

US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is below the 40% range of the daily stochastic. It indicates that the market is in a bearish momentum. The SMAs are sloping upward indicating the uptrend. The market is falling as sellers emerge in the overbought region.

General Outlook for US Wall Street 30 (US30USD)
US30USD is retracing on the downside. According to the Fibonacci tool analysis, the market will fall to level 1.618 Fibonacci extensions or the low of 33326.80.

You can purchase crypto coins here: Buy Coins

Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Author : Azeez Mustapha

Avatar

Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.