Source: PaxForex Premium Analytics Portal, Technical Insight

U.S. stock indices rose markedly on Wednesday, with votes still counting in several key states, including Pennsylvania, at the close of trading. Victory in Pennsylvania brings 20 votes. U.S. President Donald Trump expressed confidence that he was winning in the state.

Nasdaq 100, H4

Pivot: 11793.00

Analysis:

Provided that the index is traded above 11340.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 11793.00
• Take Profit 1: 12440.00
• Take Profit 2: 13100.00

Alternative scenario: 

In case of breakout of the level 11340.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 11560.00
• Take Profit 1: 11360.00
• Take Profit 2: 11110.00

Comment:

RSI indicates a uptrend during the day.

Key levels:

Nasdaq 100, D1

Pivot: 11793.00

Analysis:

While the price is above 11340.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 11793.00
• Take Profit 1: 12440.00
• Take Profit 2: 13100.00

Alternative scenario:

If the level 11340.00 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 11340.00
• Take Profit 1: 10960.00
• Take Profit 2: 10680.00

Comment:

RSI is bullish and indicates further decrease.

Key levels: