Source: PaxForex Premium Analytics Portal, Technical Insight

On Thursday, U.S. stock indices closed with growth, recouping losses previously observed in the course of trading due to the growth of shares of technological companies. The Dow Jones Industrial Average index rose 44.81 points (0.15%) to 29328.95 points.

Dow Jones 30, H4

Pivot: 29483.00

Analysis:

Provided that the index is traded below 30000.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 29483.00
• Take Profit 1: 29200.00
• Take Profit 2: 28900.00

Alternative scenario: 

In case of breakout of the level 30000.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 30000.00
• Take Profit 1: 30400.00
• Take Profit 2: 30900.00

Comment:

RSI indicates a downtrend during the day.

Key levels:

Dow Jones 30, D1

Pivot: 29483.00

Analysis:

While the price is above 28450.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 29483.00
• Take Profit 1: 29940.00
• Take Profit 2: 31300.00

Alternative scenario:

If the level 28450.00 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 28450.00
• Take Profit 1: 27570.00
• Take Profit 2: 26100.00

Comment:

RSI is bullish and indicates further increase.

Key levels: