Source: PaxForex Premium Analytics Portal, Technical Insight

U.S. stock indices rose markedly on Monday's trading results thanks to reports of improved health of U.S. President Donald Trump and hopes for new stimulus measures in the wake of the Coronavirus Pandemic.

Nasdaq 100, H4

Pivot: 11510.00

Analysis:

Provided that the index is traded above 11330.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 11510.00
• Take Profit 1: 11600.00
• Take Profit 2: 11740.00

Alternative scenario: 

In case of breakdown of the level 11330.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 11330.00
• Take Profit 1: 11225.00
• Take Profit 2: 11145.00

Comment:

RSI indicates an uptrend during the day.

Key levels:

Nasdaq 100, D1

Pivot: 11441.69

Analysis:

While the price is below 11830.00, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 11441.69
• Take Profit 1: 10680.00
• Take Profit 2: 10300.00

Alternative scenario:

If the level 11830.00 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 11830.00
• Take Profit 1: 12440.00
• Take Profit 2: 13100.00 

Comment:

RSI is bearish and indicates further decline.

Key levels: