US Wall Street 30(US30USD) Resumes Uptrend, Targets Level 36700

Updated:

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

US Wall Street 30 (US30USD) Long-term Trend: Bullish
US30USD is in an upward move but the index is trading marginally on the upside. The uptrend reached the high of level 36124 but was resisted. The index pulled back above the moving averages. Today, the market is resuming a fresh uptrend. Meanwhile, on December 13 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the US30USD price will rise to level 1.272 Fibonacci extension or level 36669.90.

US30USD – Daily Chart

US Wall Street 30 Daily Chart Indicators Reading:
US30USD is at level 51 of the Relative Strength Index for period 14. It indicates that there is a balance between supply and demand. The price bars are above the moving averages indicating that the prices are likely to rise. The 21-day and 50 –day SMAs are sloping upward indicating the uptrend.

US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On the 4-hour chart, the index is in an uptrend. The upward move faces rejection at level 35900 as the index fell above level 35400 to resume an uptrend. Meanwhile, on December 8 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that the US30USD price will rise to level 1.272 Fibonacci extension or level 36453.40.

US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is above the 25% area of the daily stochastic. The index is in a bullish momentum. The index price is below the 21-day SMA but above the 50-day SMA indicating a possible fluctuation of prices. 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 uptrend. Buyers are struggling to sustain the bullish momentum above the resistance levels of 36800 or 37000. The index will rise as long as the price bars are above the moving averages.


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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.