Source: PaxForex Premium Analytics Portal, Technical Insight

The U.S. stock market ended Wednesday trading by strengthening the commodities, consumer services, and healthcare sectors. At the close of the NYSE, Dow Jones gained 1.91 percent, reaching a monthly high.

Dow Jones 30, H4

Pivot: 28346.00

Analysis:

Provided that the index is traded above 27930.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 28346.00
• Take Profit 1: 28730.00
• Take Profit 2: 28900.00

Alternative scenario: 

In case of breakdown of the level 27930.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 27930.00
• Take Profit 1: 27730.00
• Take Profit 2: 27360.00

Comment:

RSI indicates an uptrend during the day.

Key levels:

Dow Jones 30, D1

Pivot: 28360.00

Analysis:

While the price is above 27580.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 28360.00
• Take Profit 1: 29550.00
• Take Profit 2: 30825.00

Alternative scenario:

If the level 27580.00 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 27580.00
• Take Profit 1: 26540.00
• Take Profit 2: 25950.00 

Comment:

RSI is bullish and indicates further increase.

Key levels