Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock indices closed Monday with multi-directional changes, with Nasdaq updating its record high for the second consecutive day.
The Dow Jones Industrial Average index dropped 148.47 points (0.49%) to 30069.79 points. Standard & Poor's 500 dropped by 7.16 points (0.19%) to 3,691.96 points. Nasdaq Composite added 55,71 points (0,45%) and made up 12519,95 points.
Dow Jones 30, H4
Pivot: 30050.00
Analysis:
Provided that the index is traded above 29945.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 30050.00
- Take Profit 1: 30220.00
- Take Profit 2: 30400.00
Alternative scenario:
In case of breakdown of the level 29945.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 29945.00
- Take Profit 1: 29820.00
- Take Profit 2: 29650.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 30520.00 | 29945.00 |
| 30400.00 | 29820.00 |
| 30220.00 | 29650.00 |
Dow Jones 30, D1
Pivot: 30131.00
Analysis:
While the price is above 28900.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 30131.00
- 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:
| Resistance | Support |
| 32880.00 | 28900.00 |
| 32300.00 | 27570.00 |
| 31300.00 | 26100.00 |
