OSB Daily Technical Analysis for October 27, 2014

S&P 500 rallied above the 1950 level on Friday closing at the high of the day suggesting that the bull run is intact and higher prices are imminent. Resistance at 1975 and further above at 1985. Bullish.

Dow 30 The DOW ended the week on a positive note climbing above the 50 DMA and closing at the high of the day at 16740. The upswing is likely to extend to 16800 at first instance but is looking to edge higher with 17000 being the ultimate target.

DAX 30 The DAX closed higher on Friday after testing the 20 DMA for resistance. Upside momentum is on the up for the index which is likely to head higher. Resistance above at 9115.

FTSE100 The FTSE 100 fell during the early session dipping below 6350 only to entice buyers into the market to push price back towards the 6400 resistance level. A close above this level extends upswing to 6450.

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