Source: PaxForex Premium Analytics Portal, Technical Insight
The U.S. stock market closed trading on Tuesday with growth due to strengthening the sectors of raw materials, technology, and consumer services. The S&P 500 index rose 0.75%. The index's growth leaders were L Brands Inc (NYSE: LB), which rose 7.28 percent to 31.54, Albemarle Corp (NYSE: ALB), which gained 7.01 percent, closing at 97.39, and Walmart Inc (NYSE: WMT), which rose 6.29 percent, ending the session at 147.59.
S&P 500, 30 min
Pivot: 3500.31
Analysis:
Provided that the currency pair is traded above 3495.00, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 3500.31
- Take Profit 1: 3533.00
- Take Profit 2: 3575.00
Alternative scenario:
In case of breakout of the level 3495.00, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 3495.00
- Take Profit 1: 3465.00
- Take Profit 2: 3445.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
Resistance | Support |
3600.00 | 3495.00 |
3575.00 | 3465.00 |
3533.00 | 3445.00 |
S&P 500, D1
Pivot: 3519.77
Analysis:
While the price is above 3390.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 3519.77
- Take Profit 1: 3620.00
- Take Profit 2: 3870.00
Alternative scenario:
If the level 3390.00 is broken-down, follow the recommendations below.
- Time frame: D1
- Recommendation: short position
- Entry point: 3390.00
- Take Profit 1: 3257.00
- Take Profit 2: 3150.00
Comment:
RSI is bullish and indicates further growth.
Key levels:
Resistance | Support |
3950.00 | 3390.00 |
3870.00 | 3257.00 |
3620.00 | 3150.00 |