Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock market closed Thursday's trading higher on the strength of the telecommunications, financials and commodities sectors. The Dow Jones was up 0.93% at the close on the New York Stock Exchange, hitting an all-time high.
Nasdaq 100, H4
Pivot: 13517.00
Analysis:
Provided that the index is traded below 13700.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 13517.00
- Take Profit 1: 13395.00
- Take Profit 2: 13300.00
Alternative scenario:
In case of breakout of the level 13700.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 13700.00
- Take Profit 1: 13780.00
- Take Profit 2: 13940.00
Comment:
RSI indicates a downtrend during the day.
Key levels:
| Resistance | Support |
| 13940.00 | 13395.00 |
| 13780.00 | 13300.00 |
| 13700.00 | 13200.00 |
Nasdaq 100, D1
Pivot: 13871.00
Analysis:
Provided that the index is traded above 13300.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 13871.00
- Take Profit 1: 14220.00
- Take Profit 2: 14560.00
Alternative scenario:
In case of breakdown of the level 13300.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 13300.00
- Take Profit 1: 12620.00
- Take Profit 2: 12200.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
| Resistance | Support |
| 14650.00 | 13300.00 |
| 14560.00 | 12620.00 |
| 14220.00 | 12200.00 |
