On Friday (04.09.2009) OSEBX closed at 299.75 up 1.2% from last trading day. Intraday high and low was 300.84 and 296.26. After some days with general fall there has been two days of upward movement. On the upside we find resistance levels at 301.75, ~305, 307, 310 and ~316. On the downside we find support levels at 298.44, 293 and 287.
ADX show low values indicating sideways movement. We also see that -DI is stronger than +DI indicating that there is a selling pressure in the market right now. The selling pressure is currently declining and are about to become quite weak. Bulls and bears are in agreement of where the market should be. RSI is showing falling bottoms and has also been showing falling tops lately. It is now important that we see that RSI precede last top seen at 57.79 to ensure further rise for OSEBX.
Pivot points for tomorrow are PP = 298.95, S1 = 297.06, S2 = 294.38, R1 = 301.64, R2 = 303.53. 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
