Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock market closed trading multidirectional due to strengthening sectors of utilities, finance and health care. The market is demonstrating negative dynamics on the part of the oil and gas, technology and consumer services sectors. NASDAQ Composite index is down 0.03%.
Nasdaq 100, H4
Pivot: 12887.00
Analysis:
Provided that the index is traded above 12435.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 12887.00
- Take Profit 1: 13025.00
- Take Profit 2: 13450.00
Alternative scenario:
In case of breakdown of the level 12435.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 12435.00
- Take Profit 1: 11770.00
- Take Profit 2: 11105.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
Resistance | Support |
13800.00 | 12435.00 |
13450.00 | 11770.00 |
13025.00 | 11105.00 |
Nasdaq 100, D1
Pivot: 12900.00
Analysis:
While the price is above 12170.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 12900.00
- Take Profit 1: 13100.00
- Take Profit 2: 13800.00
Alternative scenario:
If the level 12170.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 12170.00
- Take Profit 1: 11500.00
- Take Profit 2: 10960.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
Resistance | Support |
14000.00 | 12170.00 |
13800.00 | 11500.00 |
13100.00 | 10960.00 |