Today (16.02.2009) OSEBX closed at 230.87 down 1.7% with intra day high and low of 234.90 and 230.84. Taking a closer look at the price chart we see that OSEBX are back down below the 232 level. This is negative and to find the next real support level we have to look for 228.62. This level should normally be quite strong but we should not be surprised if 225/226 is reached. Even further down we have support level at 220.32, 217.31 and 214. On the upside we find resitance levels at 236.29/236.80 and 243.14. There are still no change to spot from -DI or +DI. ADX is showing some minor strenghtening. RSI seems to be on its way out of the rising RSI channel which is negative. Looking at the price chart what is important now is that a new bottom should not be lower than 217 (last bottom). Pivot points for tomorrow are PP = 232.20, S1 = 229.50, S2 = 228.14, R1 = 233.57, R2 = 236.27. 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 OSEBX 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
