Technical Analysis

OSEBX had another big fall today down 7.5% and closing at 220.39. If we look at the RSI chart we clearly see a negative trend with falling tops and today's close lower than last formed bottom. We see the same in the ADX chart where -DI is rising while +DI is falling. There is a support level at 219 and with a falling oil price and a falling US market it is likely that this support level will be tested again tomorrow. The last lowest bottom that formed about 2.5 weeks ago could be tested again soon but from the trendline in the RSI chart and looking at the price chart there seems to be a relatively good support level at about 211 that would have to be broken. To sum up, pay attention to the RSI chart. If RSI falls below the rising trendline it would be a very negative signal that could lead to a fall down to 184 (discussed in an earlier article here on stocktradersbulletin.com).

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