On Friday (05.06.2009) OSEBX closed at 300.31 up 1.1% from last trading day. Intraday high and low was 302.55 and 297. Looking at the chart we see that the 305 resistance level talked about here at stocktradersbulltin.com earlier has proven too strong so far. If the 305 level is broken the coming days 311.69 is the next level to look for on the upside. On the downside we find support levels at 287.20 and 265.96. The ADX value we now see indicate a strong trend (now uptrend). What is still a bit worrying is the falling RSI tops. This could indicate a pullback to 287.20 but we should not be surpriced if 305 is tested quite soon either.
Pivot points for tomorrow are PP = 299.95, S1 = 297.36, S2 = 294.40, R1 = 302.91, R2 = 305.50. An opening higher than PP tomorrow can be regarded as positive.
If you want to calculate pivot points for stocks that you follow, OSEBX or any other indexes you can do that with the Dukascopy pivot point calculator found here:
http://www.stocktradersbulletin.com/documents/financialcalendar.html (lower part of page).
Happy trading.
SB
