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:

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: