USWall Street 30 (US30USD) Resumes Uptrend, Targets Level 36744

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

US Wall Street 30 (US30USD) Long-term Trend: Bullish
US30USD is trading above the moving averages as price reaches the high of level 35. There is a tendency for prices to rise in the bullish trend zone. The index has risen to level 35430 at the time of writing. Meanwhile, on October 7 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that US30USD will rise to level 2.618 Fibonacci extension or level 36744.70.

US Wall Street 30 Daily Chart Indicators Reading:
US30USD is at level 60 of the Relative Strength Index period 14. It indicates that it is in the bullish trend zone and above centerline 50. The index is capable of a further upward move. 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 an uptrend. The price breaks the initial resistance at level 35000 as the market reaches the overbought region. Meanwhile, on October 17 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that US30USD will rise but reverse at level 1.272 Fibonacci extension or level 35697.70.

4-hour Chart Indicators Reading
US30USD is above the 80% range of the daily stochastic. The index has fallen to the overbought region. 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 has resumed the uptrend. The bulls are attempting to break the resistance at level 35600 to resume upward. A breakout at the overhead resistance will bring about accelerated price movement on the upside. According to the Fibonacci tool analysis, the market will reverse at level 1.272 Fibonacci extension or level 35697.70.



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