On Friday (06.11.2009) OSEBX closed at 334.52 down 0.8% from last trading day. Intraday high and low was 341.18 and 333.32. Resistance levels to pay attention to are 336, 339 and 342. Support levels are 332, ~330 and 325/326.
ADX is continuing its fall and neither the bulls nor the bears are dominating the market. There seems to be high uncertainty of how the market will move the coming days. What we can say though is that the bulls are gaining some momentum and are less negative than before.
RSI is also in a "no man's land" at the moment. Because there is no clear trend in the market RSI would be ideal to look at for further clues, but now there are no clear indications from RSI neither other than falling tops and slightly rising bottoms (falling tops - not good, rising bottoms - good). In the long picture RSI is still withing the rising trend channel.
Pivot points for tomorrow are PP = 336.34, S1 = 331.50, S2 = 328.48, R1 = 339.36, R2 = 344.20. 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
