Source: PaxForex Premium Analytics Portal, Technical Insight
During the trading on Tuesday the American stock indices did not show any single dynamic: the Dow Jones rose to a record high, while the S&P 500 and the Nasdaq declined. The Nasdaq Composite lost 47.97 points (0.34%) to 14047.5 points.
Nasdaq 100, H4
Pivot: 13774.00
Analysis:
Provided that the index is traded below 13875.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 13774.00
- Take Profit 1: 13725.00
- Take Profit 2: 13630.00
Alternative scenario:
In case of breakout of the level 13875.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 13875.00
- Take Profit 1: 13995.00
- Take Profit 2: 14090.00
Comment:
RSI indicates a downtrend during the day.
Key levels:
| Resistance | Support |
| 14090.00 | 13725.00 |
| 13995.00 | 13630.00 |
| 13875.00 | 13500.00 |
Nasdaq 100, D1
Pivot: 13750.00
Analysis:
While the price is above 13350.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 13750.00
- Take Profit 1: 14120.00
- Take Profit 2: 14650.00
Alternative scenario:
If the level 13350.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 13350.00
- Take Profit 1: 12830.00
- Take Profit 2: 12200.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
| Resistance | Support |
| 15000.00 | 13350.00 |
| 14650.00 | 12830.00 |
| 14120.00 | 12200.00 |
