Source: PaxForex Premium Analytics Portal, Technical Insight
Futures on Dow Jones Industrial Average and Standard & Poor's 500 stock indices went down sharply at statements by U.S. President Donald Trump, who called the counting of votes in the presidential election "fraud.
S&P 500, H4
Pivot: 3510.00
Analysis:
Provided that the index is traded above 3485.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 3510.00
- Take Profit 1: 3550.00
- Take Profit 2: 3587.00
Alternative scenario:
In case of breakdown of the level 3485.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 3485.00
- Take Profit 1: 3440.00
- Take Profit 2: 3405.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 3610.00 | 3485.00 |
| 3587.00 | 3440.00 |
| 3550.00 | 3405.00 |
S&P 500, D1
Pivot: 3516.40
Analysis:
While the price is above 3210.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 3516.40
- Take Profit 1: 3588.00
- Take Profit 2: 3745.00
Alternative scenario:
If the level 3210.00 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 3210.00
- Take Profit 1: 3130.00
- Take Profit 2: 2955.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
| Resistance | Support |
| 3890.00 | 3210.00 |
| 3745.00 | 3130.00 |
| 3588.00 | 2955.00 |
