Source: PaxForex Premium Analytics Portal, Technical Insight

U.S. stock indices were mixed on Friday amid uncertainty about the prospects of the U.S. Congress adopting the next economic stimulus package and unsuccessful negotiations between Britain and the European Union about the relations of the parties after Brexit. At the same time, investors hope that the soon introduction of COVID-19 vaccines may contribute to economic recovery.

Dow Jones 30, H4

Pivot: 30038.00

Analysis:

Provided that the index is traded above 28900.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 30038.00
• Take Profit 1: 31300.00
• Take Profit 2: 32300.00

Alternative scenario: 

In case of breakdown of the level 28900.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 28900.00
• Take Profit 1: 27570.00
• Take Profit 2: 26100.00

Comment:

RSI indicates an uptrend during the day.

Key levels:

Dow Jones 30, D1

Pivot: 30025.00

Analysis:

While the price is above 26100.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 30025.00
• Take Profit 1: 31500.00
• Take Profit 2: 32880.00

Alternative scenario:

If the level 26100.00 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 26100.00
• Take Profit 1: 25000.00
• Take Profit 2: 22850.00

Comment:

RSI is bullish and indicates further increase.

Key levels: