Source: PaxForex Premium Analytics Portal, Technical Insight
Major U.S. stock indices rose on Thursday and ended trading at record highs. The Nasdaq ended trading above 13,000 points for the first time. U.S. congressmen in a joint session on Wednesday certified the results of the U.S. presidential election, affirming the victory of Democrat Joe Biden.
Nasdaq 100, H4
Pivot: 12945.00
Analysis:
Provided that the index is traded above 12800.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 12945.00
- Take Profit 1: 13070.00
- Take Profit 2: 13170.00
Alternative scenario:
In case of breakdown of the level 12800.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 12800.00
- Take Profit 1: 11770.00
- Take Profit 2: 11105.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 13250.00 | 12800.00 |
| 13170.00 | 12540.00 |
| 13070.00 | 12430.00 |
Nasdaq 100, D1
Pivot: 12924.00
Analysis:
While the price is above 12170.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 12924.00
- 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 |
