On Friday (18.09.2009) OSEBX closed at 325.53 up 0.1% from last trading day. Intraday high and low was 327.13 and 322.20. From our last analysis we see that there has been a breakout from the 315.78 resistance level. This is very positive and could leave room for further rise. New resistance levels to look for are 332.49 and 341.77. Support levels to look for are now 315.78, 310.85 and 305.42.
ADX is still showing low values but has risen lately. From +DI we clearly see that the bulls are dominating the market right now. What is also positive is that last +DI top was higher than the previous +DI top. We could see a new positive trend development coming but it is still to early to say for sure yet.
RSI value is at 68.49 also leaving room for further rise for OSEBX. Beside that RSI do not give us any clear indications for further development for the time being.
Pivot points for tomorrow are PP = 324.95, S1 = 322.78, S2 = 320.03, R1 = 327.70, R2 = 329.88. 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
