Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock market closed Thursday's trading higher on the strength of the technology, manufacturing and consumer services sectors. The NASDAQ Composite Index was up 1.03%.
Nasdaq 100, H4
Pivot: 13745.00
Analysis:
Provided that the index is traded above 13530.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 13745.00
- Take Profit 1: 13850.00
- Take Profit 2: 14000.00
Alternative scenario:
In case of breakdown of the level 13530.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 13530.00
- Take Profit 1: 13420.00
- Take Profit 2: 13260.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 14100.00 | 13530.00 |
| 14000.00 | 13420.00 |
| 13850.00 | 13260.00 |
Nasdaq 100, D1
Pivot: 13803.00
Analysis:
Provided that the index is traded above 12200.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 13803.00
- Take Profit 1: 14145.00
- Take Profit 2: 14650.00
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 |
| 14850.00 | 12200.00 |
| 14650.00 | 11580.00 |
| 14145.00 | 10960.00 |
