Source: PaxForex Premium Analytics Portal, Technical Insight

The U.S. stock index Dow Jones Industrial Average rose to a new record high in trading on Wednesday amid waning worries about a possible increase in U.S. interest rates. At the same time, shares of technology companies continued to decline for the fourth session in a row. 

Dow Jones 30, H4 

Pivot: 34240.00

Analysis:

Provided that the index is traded above 34080.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 34240.00
• Take Profit 1: 34380.00
• Take Profit 2: 34500.00

Alternative scenario: 

In case of breakdown of the level 34080.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 34080.00   
• Take Profit 1: 33940.00
• Take Profit 2: 33800.00

Comment:

RSI indicates an uptrend during the day.

Key levels:

Dow Jones 30, D1

Pivot: 33872.00

Analysis:

While the price is above 33120.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 33872.00
• 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: