Source: PaxForex Premium Analytics Portal, Technical Insight

The U.S. stock market closed trading on Tuesday with growth due to the strengthening of the financial, technology, and utility sectors. At the closing of the NYSE, Dow Jones rose by 0.70%.

Dow Jones 30, H4

Pivot: 29835.00

Analysis:

Provided that the index is traded above 29650.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 29835.00
• Take Profit 1: 30120.00
• Take Profit 2: 30400.00

Alternative scenario: 

In case of breakdown of the level 29650.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 29650.00
• Take Profit 1: 29460.00
• Take Profit 2: 29230.00

Comment:

RSI indicates an uptrend during the day.

Key levels:

Dow Jones 30, D1

Pivot: 29887.00

Analysis:

While the price is above 28900.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 29887.00
• Take Profit 1: 31300.00
• Take Profit 2: 32300.00

Alternative scenario:

If the level 28900.00 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 28900.00
• Take Profit 1: 27570.00
• Take Profit 2: 26100.00

Comment:

RSI is bullish and indicates further increase.

Key levels: