US Wall Street 30 (US30USD) Retraces to Level 35297 Support, Upward Move Likely

Azeez Mustapha
1 September 2021 | Updated: 1 September 2021

Key Resistance Zones: 35000, 35500, 36000
Key Support Zones: 27000, 26500, 26000

US Wall Street 30 (US30USD) Long-term Trend: Bullish
US Wall Street 30 has been in an uptrend. On August 20, the uptrend was stalled at level 35502. Since August 25, it has been consolidating below the 35502 resistance level. Today, US30USD is facing rejection at a recent high. US Wall Street has fallen to the support of the 21-day SMA. The index will rally to level 35800 if the current resistance is breached. Meanwhile, on the August 25 uptrend, a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the market will rise to level 1.272 Fibonacci extension or level 35724.0.

US30USD – Daily Chart

US Wall Street 30 Daily Chart Indicators Reading:
The index is at level 53 of the Relative Strength Index period 14. It indicates that the index is in the bullish trend zone and capable of rising on the upside. The 21-day and 50 –day SMAs are sloping upward indicating the uptrend.

US Wall Street 30 (US30USD) Medium-term Trend: Ranging
On the 4-hour chart, the index price is in a sideways trend below level 35500. Today, the price has broken below the moving averages. The current downtrend will extend to the low of level 35117. The selling pressure may accelerate to the downside.

US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is below the 20% range of the daily stochastic. It indicates that the market is in a bearish momentum. The altcoin has fallen to the oversold region of the market. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

General Outlook for US Wall Street 30 (US30USD)
US Wall Street 30 is in an upward move. The uptrend has been interrupted at level 35600 as the market resumes a downward move. On the daily chart, the index has fallen to the support of the 21-day SMA. The uptrend will resume if the 21-day SMA support holds


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Azeez Mustapha

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.