Today OSEBX was up 2.0% ending at 226.67. This is close to the 226 resistance level. It will be important to see how OSEBX opens tomorrow and see if OSEBX can rise further from the 226 level. Even so there are many indications that OSEBX will open lower tomorrow. The levels to look for on the upside are 229, 233 and 236 while on the downside 226, 223.74, 221.47 and 217/218. Like we have discussed a few times lately +DI and -DI are still "dancing" (see last post). From ADX we also see that OSEBX is moving more and more sideways. As OSEBX is moving sideways the RSI value could play an important role. RSI ended at 50.88 today so we can not say that the RSI value give us any additional information. It looks like the market is very uncertain and are taking a small break before the big push either up or down. RSI has entered the rising trend channel again which is positive. Today we have also added the pivot points to pay attention to for tomorrow. PP = 225.03, S1 = 222.55, S2 = 218.43, R1 = 229.15 and R2 = 231.62. Generally we can say that if OSEBX opens higher than PP we will have a positive sentiment throughout the day and vise versa.
Happy trading
SB
