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:

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: