USA30 stocks test resistance

Source: Dukascopy Bank SA


The top 30 US stock index has been testing a resistance zone at 34,170.00/34,940.00 in June, as the 50-day simple moving average was providing support. Note that the resistance zone has kept the index down since August of 2021.

In the case of the index passing the major resistance zone, it would book new 2023 high levels. Next target for the surge would then be the mid-2022 high level range at 35,385.00/35,500.00. Higher above, note the all time high at 36,960.00.

However, a potential decline of the equity index is expected to look for support in the combination of the 50 and 200-day simple moving averages near 33,500.00. Further below note the May low level zone at 32,580.00/32,690.00. In the case of this zone failing, the March low levels could act as support at 31,425.00/31,620.00.
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