Source: PaxForex Premium Analytics Portal, Technical Insight
U.S. stock indices closed Tuesday's trading with a mixed trend after rising to record highs a day earlier. According to investors, markets paused active growth in both stocks and commodity prices. The Dow Jones Industrial Average index was down 9.93 points (0.03%) at 31375.83 by the close of trading.
Dow Jones 30, H4
Pivot: 31325.00
Analysis:
Provided that the index is traded above 31100.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 31325.00
- Take Profit 1: 31570.00
- Take Profit 2: 31790.00
Alternative scenario:
In case of breakdown of the level 31100.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 31100.00
- Take Profit 1: 30820.00
- Take Profit 2: 30520.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 31860.00 | 31100.00 |
| 31790.00 | 30820.00 |
| 31570.00 | 30520.00 |
Dow Jones 30, D1
Pivot: 31132.00
Analysis:
While the price is above 29700.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 31132.00
- Take Profit 1: 33000.00
- Take Profit 2: 33450.00
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 |
| 34000.00 | 29700.00 |
| 33450.00 | 28480.00 |
| 33000.00 | 26100.00 |
