Source: PaxForex Premium Analytics Portal, Technical Insight
U.S. stock indices showed weak and mixed movements in trading on Tuesday. The Nasdaq Composite added 18.61 points (0.14%) to 13397.66 points.
Nasdaq 100, H4
Pivot: 13144.00
Analysis:
Provided that the index is traded below 13200.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 13144.00
- Take Profit 1: 13095.00
- Take Profit 2: 12965.00
Alternative scenario:
In case of breakout of the level 13200.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 13200.00
- Take Profit 1: 13425.00
- Take Profit 2: 13650.00
Comment:
RSI indicates a downtrend during the day.
Key levels:
| Resistance | Support |
| 13650.00 | 13095.00 |
| 13425.00 | 12965.00 |
| 13200.00 | 12900.00 |
Nasdaq 100, D1
Pivot: 13150.00
Analysis:
Provided that the index is traded below 13300.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 13150.00
- Take Profit 1: 12620.00
- Take Profit 2: 12200.00
Alternative scenario:
In case of breakout of the level 13300.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 13300.00
- Take Profit 1: 13700.00
- Take Profit 2: 14080.00
Comment:
RSI is bearish and indicates further decrease.
Key levels:
| Resistance | Support |
| 14080.00 | 12620.00 |
| 13700.00 | 12200.00 |
| 13300.00 | 11600.00 |
