Source: PaxForex Premium Analytics Portal, Technical Insight
U.S. stock indices closed Wednesday's trading without a single dynamic, with the Dow Jones and S&P 500 showing gains for the third straight session. The main focus of market participants in recent days is on better-than-expected earnings reports, progress on coronavirus vaccination, and the prospects for new stimulus measures in the United States.
Dow Jones 30, H4
Pivot: 30771.00
Analysis:
Provided that the index is traded above 30300.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 30771.00
- Take Profit 1: 30940.00
- Take Profit 2: 31140.00
Alternative scenario:
In case of breakdown of the level 30300.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 30300.00
- Take Profit 1: 29860.00
- Take Profit 2: 29670.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 31260.00 | 30300.00 |
| 31140.00 | 29860.00 |
| 30940.00 | 29670.00 |
Dow Jones 30, D1
Pivot: 30723.00
Analysis:
While the price is above 29700.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 30723.00
- Take Profit 1: 31300.00
- Take Profit 2: 33000.00
Alternative scenario:
If the level 29700.00 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 29700.00
- Take Profit 1: 28480.00
- Take Profit 2: 26100.00
Comment:
RSI is bullish and indicates a mid-term uptrend.
Key levels:
| Resistance | Support |
| 33450.00 | 29700.00 |
| 33000.00 | 28480.00 |
| 31300.00 | 26100.00 |
