US Wall Street 30(US30USD) Declines as Price Reaches Overbought Region at Level 36569

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

US Wall Street 30 (US30USD) Long-term Trend: Bullish
On November 8, US30USD rallied to level 36569 is an uptrend. The index reached the overbought region and resumed selling pressure. For the past three days, the market has been declining on the downside. Today, US Wall Street 30 has declined to level 36186. The retracement is approaching bearish exhaustion. The market may decline to level 36140 and resume an upward move. Nonetheless, if it tests the trend line and bounces, the uptrend may resume.

US Wall Street 30 Daily Chart Indicators Reading:
US30USD has fallen to level 63 of the Relative Strength Index period 14. US Wall Street 30 is in an uptrend zone and capable of a further upward move. The index will resume a downtrend if the price breaks and closes below the bullish trend line. On the other hand, the index will resume an uptrend if the trend line remains unbroken by prices. The 21-day and 50 –day SMAs are sloping upward indicating the uptrend.

US Wall Street 30 (US30USD) Medium-term Trend: Bullish
On the 4-hour chart, the index is in a downtrend. US Wall Street 30 has fallen below the moving averages indicating further downsides. Meanwhile, on November 9 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates the index will fall to level 1.618 Fibonacci extension or level 36139.80.

4-hour Chart Indicators Reading
US30USD is below the 20% range of the daily stochastic. US Wall Street 30 has fallen into the oversold region. Buyers are likely to emerge in the oversold region. The index 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 in a downward move. The market is reaching bearish exhaustion. The uptrend will commence as price falls into the oversold region.

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