Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock market closed Monday's trading with a decline amid negative dynamics from the consumer goods, technology and consumer services sectors. The Dow Jones was down 0.36% at the close of trading on the New York Stock Exchange.
Dow Jones 30, H4
Pivot: 34040.00
Analysis:
Provided that the index is traded below 34260.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 34040.00
- Take Profit 1: 33890.00
- Take Profit 2: 33700.00
Alternative scenario:
In case of breakout of the level 34260.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 34260.00
- Take Profit 1: 34360.00
- Take Profit 2: 34540.00
Comment:
RSI indicates a downtrend during the day.
Key levels:
Resistance | Support |
34540.00 | 33890.00 |
34360.00 | 33700.00 |
34260.00 | 33560.00 |
Dow Jones 30, D1
Pivot: 34137.00
Analysis:
While the price is above 33120.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 34137.00
- Take Profit 1: 34930.00
- Take Profit 2: 35530.00
Alternative scenario:
If the level 33120.00 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 33120.00
- Take Profit 1: 32000.00
- Take Profit 2: 30880.00
Comment:
RSI is bullish and indicates a mid-term uptrend.
Key levels:
Resistance | Support |
37125.00 | 33120.00 |
35530.00 | 32000.00 |
34930.00 | 30880.00 |