Today (26.03.2009) OSEBX closed at 237.84 up 2.0% from yesterday. Intraday high and low was 238.43 and 233.06. As seen from the chart OSEBX broke out from the relatively strong 232/233 level. This is seen as very positive and could lead way for further rise for OSEBX. It is not far till next resistance level found at about 242/243 and if there will be a breakout from this level is too early to say yet but do not get surprised if there will be a reaction down again if this level is tested soon. Even further upwards we also find a resistance level at 254. On the downside pay attention to 232.44, 225.71 and 219/220. ADX is showing relatively low values but they are increasing. +DI and -DI are showing positive signals but we want to see a higher +DI value than today (30.97) as this is roughly the value of last +DI top. RSI is increasing in value and are now at 62.55. Looking at the chart we clearly see the increasing in RSI value but RSI still give room for further rise for OSEBX. As it seems now the 242/243 level could be tested very soon but do not get surprised if OSEBX falls back and test 232/233 or even 225 again soon.
Pivot points for tomorrow are PP = 236.44, S1 = 234.46, S2 = 231.07, R1 = 239.83, R2 = 241.81. 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
