OSB Daily Technical Analysis for October 20, 2014

S&P 500 rallied on Friday making an attempt to get back above the 1900 area. A close back above this key resistance level is likely to encourage buyers to step back in and push the index back into the 1920-40 area. A close below 1850 support extends to recent lows in the 1810 area.

Dow 30 Dow Jones broke out rallying almost 300 points to close at 16316. Bullish momentum is likely to continue to push the index towards the 16500 area. Recent correction and downswing is likely to be over for now.

DAX 30 The DAX broke out on Friday with a strong finish above the 8800 area. Market has been oversold for some time and is likely to continue the upswing at least until it meets strong resistance in the 9000 region. Overall trend remains bearish.

FTSE 100 upswing on Friday saw the index looking to test the 6300 area. A close above is likely to extend price up towards 6350. Bearish bias remains.

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