Source: PaxForex Premium Analytics Portal, Technical Insight
The major Wall Street indices rose on Monday, with the Nasdaq index up about 1%. Risk appetite also improved as cryptocurrencies took a back seat after Sunday's sell-off. The Dow Jones Industrial Average index rose 165.59 points or 0.48%.
Nasdaq 100, H4
Pivot: 13662.00
Analysis:
Provided that the index is traded above 13405.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 13662.00
- Take Profit 1: 13830.00
- Take Profit 2: 13935.00
Alternative scenario:
In case of breakdown of the level 13405.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 13405.00
- Take Profit 1: 13235.00
- Take Profit 2: 12995.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 14075.00 | 13405.00 |
| 13935.00 | 13235.00 |
| 13830.00 | 12995.00 |
Nasdaq 100, D1
Pivot: 13449.00
Analysis:
Provided that the index is traded above 12960.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 13449.00
- Take Profit 1: 13700.00
- Take Profit 2: 14080.00
Alternative scenario:
In case of breakdown of the level 12960.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 12960.00
- Take Profit 1: 12620.00
- Take Profit 2: 12200.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
| Resistance | Support |
| 14420.00 | 12960.00 |
| 14080.00 | 12620.00 |
| 13700.00 | 12200.00 |
