Source: PaxForex Premium Analytics Portal, Technical Insight
U.S. stock indices rose in trading on Thursday, with the S&P 500 indicator crossing the 4,000-point mark for the first time. A day earlier, U.S. President Joe Biden unveiled a $2 trillion-plus infrastructure investment plan that would provide $621 billion to modernize transportation infrastructure, $400 billion to support the elderly and disabled, $300 billion to support the manufacturing sector, $213 billion to repair and build affordable housing and $100 billion to develop broadband networks. The Nasdaq Composite added 233.23 points (1.76%) to 13480.11 points.
Nasdaq 100, H4
Pivot: 13331.00
Analysis:
Provided that the index is traded above 13270.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 13331.00
- Take Profit 1: 13370.00
- Take Profit 2: 13400.00
Alternative scenario:
In case of breakdown of the level 13270.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 13270.00
- Take Profit 1: 13180.00
- Take Profit 2: 13120.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 13450.00 | 13270.00 |
| 13400.00 | 13180.00 |
| 13370.00 | 13120.00 |
Nasdaq 100, D1
Pivot: 13296.00
Analysis:
Provided that the index is traded above 12200.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 13296.00
- Take Profit 1: 13440.00
- Take Profit 2: 13880.00
Alternative scenario:
In case of breakdown of the level 12200.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 12200.00
- Take Profit 1: 11580.00
- Take Profit 2: 10960.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
| Resistance | Support |
| 14650.00 | 12200.00 |
| 13880.00 | 11580.00 |
| 13440.00 | 10960.00 |
