Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock market ended the trading environment with a drop in the negative dynamics of the oil and gas, technology, and raw materials sectors. At the time of closing on the New York Stock Exchange, Dow Jones fell by 1.92%, reaching a monthly low.
Dow Jones 30, H4
Pivot: 26760.00
Analysis:
Provided that the index is traded below 27460.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 26760.00
- Take Profit 1: 26600.00
- Take Profit 2: 25600.00
Alternative scenario:
In case of breakdown of the level 27460.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 27460.00
- Take Profit 1: 27735.00
- Take Profit 2: 28000.00
Comment:
RSI indicates a downtrend during the day.
Key levels:
| Resistance | Support |
| 28000.00 | 26000.00 |
| 27735.00 | 25600.00 |
| 27460.00 | 25000.00 |
Dow Jones 30, D1
Pivot: 26904.00
Analysis:
While the price is below 28360.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 26904.00
- Take Profit 1: 25950.00
- Take Profit 2: 24800.00
Alternative scenario:
If the level 28360.00 is broken-out, follow the recommendations below.
- Time frame: D1
- Recommendation: long position
- Entry point: 28360.00
- Take Profit 1: 29550.00
- Take Profit 2: 30825.00
Comment:
RSI is bearish and indicates further decline.
Key levels:
| Resistance | Support |
| 30825.00 | 25950.00 |
| 29550.00 | 24800.00 |
| 28360.00 | 23700.00 |
