The US 30 stock index (Cash) is edging north, standing around the fresh record high of 31,252.85. The MACD, in the positive region, is holding near its trigger line, while the RSI is extending its move towards the overbought territory. The bullish 50- and 100-day simple moving averages (SMAs) could boost the price, sending the index to new uncharted peaks.
In a bullish scenario, immediate resistance may develop from the 32,000 and 33,000 psychological numbers before meeting the 261.8% Fibonacci extension mark of the down leg from 29,195 to 26,077 at 34,192.
In case of losses, support could come from the 50-day SMA at 29,655 ahead of the 28,945 support near the 200-day SMA. Failing to halt negative tendencies, the price may hit the 23.6% Fibonacci retracement level of the up leg from 18,145 to 31,252.85 at 28,076. Dropping further, the 200-day SMA and the 27,084 level could attract attention.
Concluding, the US 30 index is in a strongly bullish picture in the long term and entered once again in uncharted levels.
