US Wall Street Is Making Lower Highs and Lower Lows as It Holds Above 29650

Updated:

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

US Wall Street 30 (US30USD) Long-term Trends: Bearish
US Wall Street 30 is in a downtrend but holds above 29650. US Wall Street has been trading between the moving average lines before the recent fall. The selling pressure will resume as price breaks below the moving average lines. On the downside, the bears are attempting to break level 29650. The downtrend will resume if the bears are successful.

US Wall Street Is Making Lower Highs and Lower Lows as It Holds Above 29650
US30USD – Daily Chart

US Wall Street 30 Daily Chart Indicators Reading:
The index has fallen to level 42 of the Relative Strength Index for period 14. It indicates that the index is now in the downtrend zone and may further decline. The index’s price is below the moving averages lines indicating a possible decline. The 21-day SMA and the 50-day SMA are sloping southward indicating a downtrend.

US Wall Street 30 (US30USD) Medium-term Trend: Bearish
On the 4-hour chart, US30USD is in a downward move as price breaks below the moving average lines. The index fell to the low of 50563 and resumed consolidation above the current support.

US Wall Street Is Making Lower Highs and Lower Lows as It Holds Above 29650
US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is above the 25% range of the daily stochastic. It is in a bullish momentum but it is unstable. The upward move is likely to face rejection at the recent high. The 21-day SMA and the 50-day SMA are sloping horizontally indicating the sideways trend

General Outlook for US Wall Street 30 (US30USD)
US Wall Street 30 is in a downtrend but it holds above 29650. As buyers are intending to push the index above the 21-day line SMA. The market will resume a range-bound move if the price bars are above the 21-day line SMA.

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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.