Source: PaxForex Premium Analytics Portal, Technical Insight
Major U.S. stock indices rose on Friday as investors decided to ignore data showing a jump in U.S. inflation, although recent worries about rising prices. The Nasdaq index rose 0.36% to 13,785.65 points.
Nasdaq 100, H4
Pivot: 13699.00
Analysis:
Provided that the index is traded above 13625.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 13699.00
- Take Profit 1: 13885.00
- Take Profit 2: 14070.00
Alternative scenario:
In case of breakdown of the level 13625.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 13625.00
- Take Profit 1: 13330.00
- Take Profit 2: 13130.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
Resistance | Support |
14200.00 | 13625.00 |
14070.00 | 13330.00 |
13885.00 | 13130.00 |
Nasdaq 100, D1
Pivot: 13734.00
Analysis:
Provided that the index is traded above 13355.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 13734.00
- Take Profit 1: 14080.00
- Take Profit 2: 14790.00
Alternative scenario:
In case of breakdown of the level 13355.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 13355.00
- Take Profit 1: 12960.00
- Take Profit 2: 12620.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
Resistance | Support |
15740.00 | 13355.00 |
14790.00 | 12960.00 |
14080.00 | 12620.00 |