Source: PaxForex Premium Analytics Portal, Technical Insight

The U.S. stock market closed Thursday with growth thanks to the strengthening of the oil and gas, telecommunications and healthcare sectors. The NASDAQ Composite index rose 0.19%.

Nasdaq 100, H4

Pivot: 11662.00

Analysis:

Provided that the index is traded above 11510.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 11662.00
• Take Profit 1: 11880.00
• Take Profit 2: 12040.00

Alternative scenario: 

In case of breakdown of the level 11510.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 11510.00
• Take Profit 1: 11340.00
• Take Profit 2: 11220.00

Comment:

RSI indicates an uptrend during the day.

Key levels:

Nasdaq 100, D1

Pivot: 11646.04

Analysis:

While the price is above 11180.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 11646.04
• Take Profit 1: 12440.00
• Take Profit 2: 13100.00

Alternative scenario:

If the level 11180.00 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 11180.00
• Take Profit 1: 10680.00
• Take Profit 2: 10300.00

Comment:

RSI is bullish and indicates further increase.

Key levels: