Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock market closed Thursday's trading higher on the strength of the oil and gas, technology and financial sectors. The Dow Jones rose 0.52%.
Dow Jones 30, H4
Pivot: 33109.00
Analysis:
Provided that the index is traded above 32800.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 33109.00
- Take Profit 1: 33415.00
- Take Profit 2: 33720.00
Alternative scenario:
In case of breakdown of the level 32800.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 32800.00
- Take Profit 1: 32400.00
- Take Profit 2: 32075.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 33800.00 | 32800.00 |
| 33720.00 | 32400.00 |
| 33415.00 | 32075.00 |
Dow Jones 30, D1
Pivot: 33005.00
Analysis:
While the price is above 32000.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 33005.00
- Take Profit 1: 34100.00
- Take Profit 2: 34750.00
Alternative scenario:
If the level 32000.00 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 32000.00
- Take Profit 1: 30880.00
- Take Profit 2: 29850.00
Comment:
RSI is bullish and indicates a mid-term uptrend.
Key levels:
| Resistance | Support |
| 37125.00 | 32000.00 |
| 34750.00 | 30880.00 |
| 34100.00 | 29850.00 |
