US Wall Street 30(US30USD) Declines as It Faces Rejection at Level 35840

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

US Wall Street 30 (US30USD) Long-term Trend: Bearish
US30USD is in a downward move. The index faced rejection at level 36400 and it fell to level 35650.70. US Wall Street 30 is now below the 21-day line moving average but above the 50-day moving average. The index will trend when the moving averages are broken. For instance, if price breaks below the 50-day SMA, the market will decline to level 34300. On the upside, if price breaks above the 21-day SMA, the index will rise to retest the $36400 overhead resistance.

US Wall Street 30 Daily Chart Indicators Reading:
US30USD has fallen to level 50 of the Relative Strength Index period 14. It indicates that there is a balance between supply and demand. The 21-day and 50 –day SMAs are sloping upward indicating the uptrend. The index’s price is between the 21-day moving average and the 50-day line moving average.

US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On the 4-hour chart, the index is in a downward move. It has fallen to level 35560 and corrected upward. The upward correction is facing another rejection. Meanwhile, on November 11 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates the index will fall to level 2.0 Fibonacci extension or level 35324.20

4-hour Chart Indicators Reading
US30USD is above the 80% range of the daily stochastic. The market is in a bearish momentum. 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 likely to be in a downward move. The Fibonacci tool has confirmed a downward move to level 2.0 Fibonacci extension or level 35324.20.



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