US Wall Street Resumes Uptrend but Stuck Below Level 30700

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

US Wall Street 30 (US30USD) Long-term Trends: Bearish
US30USD is in a downtrend but it is stuck below level 30700. The index fell to the low of level 29800 and resumed upward. Since June 16, the index fell to the oversold region of the market. The downtrend has subsided as buyers emerged in the oversold region. Today, the market is resuming upward as it struggles to break  level 31000.

US Wall Street Resumes Uptrend but Stuck Below Level 30700
US30USD – Daily Chart

US Wall Street 30 Daily Chart Indicators Reading:
The index has fallen to level 38 of the Relative Strength Index for period 14. The index is in the bearish trend zone and approaching the oversold region. 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 correction as price breaks above the moving averages. The index price bars are above the moving averages indicating a further upward movement of the index.

US Wall Street Resumes Uptrend but Stuck Below Level 30700
US30USD – 4 Hour Chart

4-hour Chart Indicators Reading
US30USD is above the 40% range of the daily stochastic. The market is in a bullish momentum. The 21-day SMA and the 50-day SMA are sloping downward indicating the downtrend.

General Outlook for US Wall Street 30 (US30USD)
US Wall Street 30 is in a downtrend but it is stuck below level 30700 The selling pressure has subsided as the market resumes upward. The index is rising to its previous highs.


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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.