OSB Daily Technical Analysis for October 29, 2014

S&P 500 rallied managing to close in the 1980 area. Bullish momentum is on the rise and the index is very likely to revisit 2000 level soon. Resistance at 1990 might cause some volatility but is likely to be surpassed. Bullish.

Dow 30 Bullish day for the Dow on Tuesday with climbing above 16900 resistance. Index is on the upswing and likely to take out resistance at 17000. A close above extends to recent highs.

DAX 30 The DAX rallied on Tuesday climbing above the 20 DMA and closing at 9108. The close suggests that the DAX has further upside to go. Resistance at 9180 and 9200. Bullish momentum on the rise.

FTSE100 The FTSE had a positive day and managed to close above the 6400 resistance which suggests further upside for the index. Further resistance above at 6450-6500. Longer term bearish bias remains; a close above 6500 changes that outlook.

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