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
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