Source: PaxForex Premium Analytics Portal, Technical Insight
U.S. stock indices rose on Friday, led by the technology and financial sectors. The S&P 500 and Dow indices ended the week higher on the rebalancing of investment portfolios at the end of the quarter as investors move into assets that are expected to benefit amid renewed economic activity. The Dow Jones index rose 0.42% to 32,755.67 points.
Dow Jones 30, H4
Pivot: 32960.00
Analysis:
Provided that the index is traded above 32330.00 , follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 32960.00
- Take Profit 1: 33250.00
- Take Profit 2: 33620.00
Alternative scenario:
In case of breakdown of the level 32330.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 32330.00
- Take Profit 1: 32030.00
- Take Profit 2: 31650.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 34000.00 | 32330.00 |
| 33620.00 | 32030.00 |
| 33250.00 | 31650.00 |
Dow Jones 30, D1
Pivot: 33073.00
Analysis:
While the price is above 32000.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 33073.00
- 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 |
