OSB Daily Technical Analysis for November 4, 2014

S&P 500 The S&P 500 made a new high on Monday reaching the 2018 mark only to pull back and end the day effectively unchanged. This suggests that the index has likely topped for now and a pullback, consolidation of recent gains is very much on the cards. Bullish bias remains intact.

Dow 30 The Dow closed lower after heading higher during intraday trading. A pullback appears to have commenced in the Dow. Support below at 17200. Bullish.

DAX 30 The DAX tested resistance at the 200 DMA on Monday but failed to remain above finding support at 9230. The DAX is likely to head lower in the short term and very likely to close the gap from Fridays open. Neutral outlook.

FTSE100 The FTSE sold off on Monday undoing gains from Friday’s session. Support below at 6420. FTSE likely to bounce around in the 6400-6520 area as it consolidates recent gains and looks for further direction.

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