OSEBX and monthly bars «
Today we have taken a closer look at
the OSEBX index and to see if plotting monthly data bars give us any
valuable information compared to the more regular daily bar plots. In
addition to the regular price chart we also plot some support and
resistance levels that are relevant. The 179 support level seems to
hold for the time being. Last month OSEBX was down and tested the 179
level and by adding the information from RSI it seems that this level
is strong. RSI is slightly showing sign of oversold. The nice thing
about plotting the data like this is that you can get a good overview
of how the longer term market cycle is. We have heard so much talk about if this is the bottom or not that you are probably bored with it. Anyway from this chart all we can say is that RSI is clearly showing some flattening out at the 30 level that could indicate that the bottom is near. This is a positive signal but still no clear signal that the bottom is here already.
SB
