Source: PaxForex Premium Analytics Portal, Technical Insight

The U.S. stock market surged on Tuesday, with the Dow Jones and S&P 500 indices making record highs. Besides, the Dow Jones indices exceeded 30000 points for the first time. Since the beginning of the month, the indicator has added 13% and can show the maximum monthly growth since 1987, notes CNBC. The S&P 500 and Nasdaq rose 11.2% and 10.3% in November, respectively. Investor optimism on Tuesday was connected with the news about the beginning of power transfer in the USA.

S&P 500, H4

Pivot: 3635.00

Analysis:

Provided that the index is traded above 3592.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 3635.00
• Take Profit 1: 3660.00
• Take Profit 2: 3690.00

Alternative scenario: 

In case of breakdown of the level 3592.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 3592.00
• Take Profit 1: 3543.00
• Take Profit 2: 3518.00

Comment:

RSI indicates an uptrend during the day.

Key levels:

S&P 500, D1

Pivot: 3631.00

Analysis:

While the price is above 3515.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 3631.00
• Take Profit 1: 3745.00
• Take Profit 2: 3900.00

Alternative scenario:

If the level 3515.00 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 3515.00
• Take Profit 1: 3390.00
• Take Profit 2: 3210.00

Comment:

RSI is bullish and indicates further increase.

Key levels: