Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock market closed Monday's trading multidirectional due to strengthening of oil and gas, finance and commodities sectors. The market is demonstrating a negative dynamic on the side of technology, utilities and consumer goods sectors. NASDAQ Composite was down 2.03%.
Nasdaq 100, H4
Pivot: 13233.00
Analysis:
Provided that the index is traded below 13385.00 follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 13233.00
- Take Profit 1: 13170.00
- Take Profit 2: 13035.00
Alternative scenario:
In case of breakout of the level 113385.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 13385.00
- Take Profit 1: 13445.00
- Take Profit 2: 13545.00
Comment:
RSI indicates a downtrend during the day.
Key levels:
| Resistance | Support |
| 13545.00 | 13170.00 |
| 13445.00 | 13035.00 |
| 13385.00 | 12850.00 |
Nasdaq 100, D1
Pivot: 13305.00
Analysis:
While the price is above 13090.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 13305.00
- Take Profit 1: 13880.00
- Take Profit 2: 14120.00
Alternative scenario:
If the level 13090.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 13090.00
- Take Profit 1: 12830.00
- Take Profit 2: 12200.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
| Resistance | Support |
| 14650.00 | 13090.00 |
| 14120.00 | 12830.00 |
| 13880.00 | 12200.00 |
