Source: PaxForex Premium Analytics Portal, Technical Insight

U.S. stock indices changed in different directions at the end of Wednesday's Federal Reserve meeting. The Dow Jones Industrial Average Index rose 36.78 points (0.13%) to 28032.38 points.

Dow Jones Index, H4

Pivot: 28060.00

Analysis:

Provided that the index is traded below 28360.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 28060.00
• Take Profit 1: 27840.00
• Take Profit 2: 27450.00

Alternative scenario: 

In case of breakout of the level 28360.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 28360.00
• Take Profit 1: 28590.00
• Take Profit 2: 28890.00

Comment:

RSI indicates a downtrend during the day.

Key levels:

Dow Jones Index, D1

Pivot: 28340.00

Analysis:

While the price is below 29550.00, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 28340.00
• Take Profit 1: 25950.00
• Take Profit 2: 24800.00

Alternative scenario:

If the level 29550.00 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 29550.00
• Take Profit 1: 30825.00
• Take Profit 2: 31860.00

Comment:

RSI is bearish and indicates further decline.

Key levels: