Today (11.05.2009) OSEBX closed at 277.73 down 2.3% from last trading day. Intraday high and low was 287.21 and 276.54. As discussed in our previous analysis of OSEBX we said that the 274 level could represent a possible high for the time being even though there were a slight chance for the 303-305 level to be reached. As we have seen today OSEBX is down after a high of 287. What support levels should we pay attention to the coming days? 274, 266 and 253 are the immediate support levels to pay attention to and where 253 seems to be quite strong. On the upside we find resistance levels at 287 and 303-305. Looking at the RSI we see declining values ending at 69.83 today. The value is still quite high and could easily indicate a further fall for OSEBX the coming days. 274 could then be tested very soon.
Pivot points for tomorrow are PP = 280.49, S1 = 273.78, S2 = 269.82, R1 = 284.45, R2 = 291.16. 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
