Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock indices closed Monday's trading with a moderate gain, having recovered the losses of the early session. The Dow Jones Industrial Average and the S&P 500 reached new record highs amid investors' optimism about the renewal of the U.S. economic activity. The Dow Jones Industrial Average index rose 174.82 points (0.53%) to 32953.46 points, reaching a record closing level for the fourth straight session.
S&P 500, H4
Pivot: 3932.00
Analysis:
Provided that the index is traded above 3915.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 3932.00
- Take Profit 1: 3990.00
- Take Profit 2: 4100.00
Alternative scenario:
In case of breakdown of the level 3915.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 3915.00
- Take Profit 1: 3869.00
- Take Profit 2: 3850.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
| Resistance | Support |
| 4150.00 | 3915.00 |
| 4100.00 | 3869.00 |
| 3990.00 | 3850.00 |
S&P 500, D1
Pivot: 3956.00
Analysis:
While the price is above 3820.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 3956.00
- Take Profit 1: 4040.00
- Take Profit 2: 4450.00
Alternative scenario:
If the level 3820.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 3820.00
- Take Profit 1: 3725.00
- Take Profit 2: 3580.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
| Resistance | Support |
| 4500.00 | 3820.00 |
| 4450.00 | 3725.00 |
| 4110.00 | 3580.00 |
