Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock indices did not show the same dynamic at the close of trading on Wednesday: the S&P 500 and Nasdaq increased, while the Dow Jones had a slight decline. Investors were following the political situation in the USA, where the House of Representatives was considering a resolution to impeach President Donald Trump over his role in the Capitol riots last week.
Nasdaq 100, H4
Pivot: 12881.00
Analysis:
Provided that the index is traded below 13020.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 12881.00
- Take Profit 1: 12780.00
- Take Profit 2: 12600.00
Alternative scenario:
In case of breakout of the level 13020.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 13020.00
- Take Profit 1: 13110.00
- Take Profit 2: 13280.00
Comment:
RSI indicates a downtrend during the day.
Key levels:
| Resistance | Support |
| 13280.00 | 12780.00 |
| 13110.00 | 12600.00 |
| 13020.00 | 12510.00 |
Nasdaq 100, D1
Pivot: 12911.00
Analysis:
While the price is above 12170.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 12911.00
- Take Profit 1: 13800.00
- Take Profit 2: 14000.00
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 |
| 14500.00 | 12170.00 |
| 14000.00 | 11500.00 |
| 13800.00 | 10960.00 |
