Today (09.03.2009) OSEBX closed at 206.22 up 2.6% from last trading day. Intraday high and low was 206.30 and 198.36. We see that today's low was almost down and tested the 197 level but ended near the 206 level. On the upside we find resistance levels at 208, 211, 215 and 220. On the downside we see support levels at 204, 202.62, 200.24 and 197.20. ADX is still showing increased values indicating that OSEBX is moving more and more into a trend. By looking at -DI it seems that lower bottoms are forming, but unfortunately we do not see any higher highs or higher bottoms for +DI yet. This indicate a strengthening in the negative direction and could lead to further fall for OSEBX. We should pay attention to -DI and see if a potentially new high will be lower than the last high of about 36. RSI is back in the trend channel but its value of 43.66 seen today does not give us any indications if OSEBX is either oversold of over bought. What we do see is that RSI is now at the falling resistance line. This could give us a reaction down tomorrow, but if there is a breakout from this level further rise for OSEBX will be indicated. There are many indications that OSEBX will continue its fall where 204, 202.62, 200 and 197 could easily be teste the coming days. Pivot points for tomorrow are PP = 203.62, S1 = 200.95, S2 = 195.68, R1 = 208.89, R2 = 211.56. An opening higher than PP tomorrow can be regarded as positive.
If you want to calculate pivot points for stocks that you follow or for any indexes you can do that with the Dukascopy pivot point calculator found in our Financial Calendar page.
Happy trading
SB
