Source: PaxForex Premium Analytics Portal, Technical Insight

The U.S. stock market closed Friday trading in a negative zone after updating record highs a day earlier. At the same time, the main indicators finished the week much better: the S&P 500 increased by 1.3%, Dow Jones - by 0.4%. The Nasdaq was up 3.1%.
Investors continue to watch the negotiations on new fiscal stimulus in the USA. Senate Republican leader Mitch McConnell said Friday that discussions "remain productive." "I'm even more optimistic now than I was last night that a bipartisan and bicameral framework for an important bailout package is very close," CNBC reports him as saying.

Nasdaq 100, H4

Pivot: 12750.00

Analysis:

Provided that the index is traded above 12600.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 12750.00
• Take Profit 1: 12850.00
• Take Profit 2: 13000.00

Alternative scenario: 

In case of breakdown of the level 12600.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 12540.00
• Take Profit 1: 12500.00
• Take Profit 2: 12300.00

Comment:

RSI indicates an uptrend during the day.

Key levels:

Nasdaq 100, D1

Pivot: 12633.00

Analysis:

While the price is above 12170.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 12633.00
• 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: