Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock market closed Thursday's trading higher on the strength of the telecommunications, finance and oil and gas sectors. The Dow Jones was up 0.71% at the close of trading on the New York Stock Exchange.
Dow Jones 30, H4
Pivot: 34050.00
Analysis:
Provided that the index is traded above 33900.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 34050.00
- Take Profit 1: 34160.00
- Take Profit 2: 34260.00
Alternative scenario:
In case of breakdown of the level 33900.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 33900.00
- Take Profit 1: 33695.00
- Take Profit 2: 33560.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 34380.00 | 33900.00 |
| 34260.00 | 33695.00 |
| 34160.00 | 33560.00 |
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 |
