Source: PaxForex Premium Analytics Portal, Technical Insight

The U.S. stock market ended Thursday's trading with growth due to strengthening the oil and gas, utilities, and finance sectors. At the closing of the NYSE, the S&P 500 index rose by 0.80%.

S&P 500, H4

Pivot: 3446.00

Analysis:

Provided that the index is traded above 3425.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 3446.00
• Take Profit 1: 3491.00
• Take Profit 2: 3520.00

Alternative scenario: 

In case of breakdown of the level 3425.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 3425.00
• Take Profit 1: 3380.00
• Take Profit 2: 3355.00

Comment:

RSI indicates an uptrend during the day.

Key levels:

S&P 500, D1

Pivot: 3442.00

Analysis:

While the price is above 3315.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 3442.00
• Take Profit 1: 3588.00
• Take Profit 2: 3745.00

Alternative scenario:

If the level 3315.00 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 3315.00
• Take Profit 1: 3210.00
• Take Profit 2: 3130.00 

Comment:

RSI is bullish and indicates further increase.

Key levels: