Source: PaxForex Premium Analytics Portal, Technical Insight

The U.S. stock market closed Tuesday's trading lower on the back of negative dynamics from the oil and gas, commodities and financial sectors. The NASDAQ Composite Index was down 0.92% at the close of trading on the New York Stock Exchange.

Nasdaq 100, H4

Pivot: 13810.00

Analysis:

Provided that the index is traded below 13935.00, follow the recommendations below:

• Time frame: H4
• Recommendation: short position
• Entry point: 13810.00
• Take Profit 1: 13640.00
• Take Profit 2: 13535.00

Alternative scenario: 

In case of breakout of the level 13935.00, follow the recommendations below:

• Time frame: H4
• Recommendation: long position
• Entry point: 13935.00    
• Take Profit 1: 14050.00
• Take Profit 2: 14165.00

Comment:

RSI indicates a downtrend during the day.

Key levels:

Nasdaq 100, D1

Pivot: 14030.00

Analysis:

Provided that the index is traded above 13180.00, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 14030.00
• Take Profit 1: 14560.00
• Take Profit 2: 14650.00

Alternative scenario: 

In case of breakdown of the level 13180.00, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 13180.00
• Take Profit 1: 12620.00
• Take Profit 2: 12200.00

Comment:

RSI is bullish and indicates further increase.

Key levels: