OSB Daily Technical Analysis for October 28, 2014

S&P 500 The S&P 500 sold off during the early session dipping below 1950 support and testing the 50 DMA only to recover and close slightly lower than the previous session. S&P 500 upside momentum continues with recent upswing likely to continue. Resistance above at 1970.

Dow 30 The Dow 30 edged higher on Monday dipping below the 50 DMA during intraday trading. The subsequent rally suggests the upswing remains intact and the index is likely to head higher. A close above 16800 extends to 16880 at first instance.

DAX 30 The DAX sold off on Monday dropping below 8900 support level only to climb back above and close at 8926. DAX volatility is on the increase as it tries to rally and remain above the critical 9000 level. A climb back above this area extends to 9080-9100.

FTSE100 The FTSE 100 rallied above 6400 during intraday only to sell off and close in the 6360 area. The FTSE is in consolidation mode with resistance above at 6400 and support below at 6320. The index is likely to consolidate at in this region. Long term bearish bias remains intact.

Risk Disclaimer

Forex and CFDs are leverage products, involved a high level of risk and can result in the loss of all your invested capital. Forex and CFDs may not be suitable for all investors. You should not risk more than you are prepared to lose. Before deciding to trade, you should ensure that you understand the risks involved and take into account your level of experience.

All information on this website, including any opinion, charts, prices, news, data, Buy/Sell signals, research and analysis is our point of view and is provided as general market commentary and does not constitute any investment advice.

OneStopBrokers.com will not accept any responsibility or liability for losses incurred by customers, visitors or traders as a result of using the data available on OneStopBrokers.com. Read more

---