Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock market closed Monday's trading with a decline amid negative dynamics from the technology, consumer services and consumer goods sectors. The Dow Jones was down 0.10 percent at closing time on the New York Stock Exchange.
S&P 500, H4
Pivot: 4188.00
Analysis:
Provided that the index is traded below 4220.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 4188.00
- Take Profit 1: 4152.00
- Take Profit 2: 4132.00
Alternative scenario:
In case of breakout of the level 4220.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 4220.00
- Take Profit 1: 4238.00
- Take Profit 2: 4255.00
Comment:
RSI indicates a downtrend during the day.
Key levels:
| Resistance | Support |
| 4255.00 | 4152.00 |
| 4238.00 | 4132.00 |
| 4220.00 | 4088.00 |
S&P 500, D1
Pivot: 4229.00
Analysis:
While the price is above 4115.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 4229.00
- Take Profit 1: 4270.00
- Take Profit 2: 4385.00
Alternative scenario:
If the level 4115.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 4115.00
- Take Profit 1: 4030.00
- Take Profit 2: 3950.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
| Resistance | Support |
| 4450.00 | 4115.00 |
| 4385.00 | 4030.00 |
| 4270.00 | 3950.00 |
