Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock market closed Friday's trading with growth due to the strengthening of commodities, technology, and financial sectors. At the close of trading on the New York Stock Exchange Dow Jones rose by 0.67%. Goldman Sachs Group Inc. was the biggest gainer among Dow Jones index components, up 8.48p (2.56%) to close at 339.33.
Dow Jones 30, H4
Pivot: 34091.00
Analysis:
Provided that the index is traded above 33683.19, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 34091.00
- Take Profit 1: 34500.00
- Take Profit 2: 34600.00
Alternative scenario:
In case of breakdown of the level 33683.19, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 33683.19
- Take Profit 1: 33495.00
- Take Profit 2: 33020.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 34700.00 | 33683.19 |
| 34600.00 | 33495.00 |
| 34500.00 | 33020.00 |
Dow Jones 30, D1
Pivot: 33992.00
Analysis:
While the price is above 33120.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 33992.00
- 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 |
