Source: PaxForex Premium Analytics Portal, Technical Insight
U.S. stock indices closed Tuesday's trading lower, following the shares of companies that will be most affected by the slowdown in economic activity after the pandemic. The Dow Jones Industrial Average index fell 308.05 points (0.94%) to 32423.15 points.
Nasdaq 100, H4
Pivot: 13017.00
Analysis:
Provided that the index is traded below 13175.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 13017.00
- Take Profit 1: 12900.00
- Take Profit 2: 12760.00
Alternative scenario:
In case of breakout of the level 13175.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 13175.00
- Take Profit 1: 13285.00
- Take Profit 2: 13550.00
Comment:
RSI indicates a downtrend during the day.
Key levels:
Resistance | Support |
13550.00 | 12900.00 |
13285.00 | 12760.00 |
13175.00 | 12530.00 |
Nasdaq 100, D1
Pivot: 12857.00
Analysis:
Provided that the index is traded above 12200.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 12857.00
- Take Profit 1: 13400.00
- Take Profit 2: 13880.00
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 |
14650.00 | 12200.00 |
13880.00 | 11580.00 |
13440.00 | 10960.00 |