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:

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: