Source: PaxForex Premium Analytics Portal, Technical Insight
The S&P 500 and Dow indices rose Thursday after weekly jobless claims data boosted optimism about the U.S. economic recovery. The S&P 500 index rose 0.29% to 4,208.06 points.
Dow Jones 30, H4
Pivot: 34313.00
Analysis:
Provided that the index is traded above 34115.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 34313.00
- Take Profit 1: 34745.00
- Take Profit 2: 35085.00
Alternative scenario:
In case of breakout of the level 34115.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 34115.00
- Take Profit 1: 33865.00
- Take Profit 2: 33475.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 35380.00 | 34115.00 |
| 35085.00 | 33865.00 |
| 34745.00 | 33475.00 |
Dow Jones 30, D1
Pivot: 34223.00
Analysis:
While the price is above 33120.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 34223.00
- Take Profit 1: 35085.00
- Take Profit 2: 36270.00
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 |
| 36270.00 | 32000.00 |
| 35085.00 | 30880.00 |
