OSB Daily Technical Analysis for November 5, 2014

S&P 500 The S&P 500 sold off on Tuesday dipping below the 2000 mark during intraday trading only to find support at 1995 and climb back above. This correction is perfectly within the norms of the recent run up. S&P well supported at the 2000 mark. Resistance above at 2015-2020 which leads the index to new all-time highs.

 

Dow 30 The Dow broke lower during the early session with bulls stepping in to push the index into positive territory and a close above 17300 for the day. Bullish bias remains intact with support at the 17200 area.

 

DAX 30 The DAX declined on Tuesday effectively closing the gap from Fridays open. Support for the DAX is at the 9150 area and further below at 9100. The DAX is likely to consolidate in this area as it digests the recent upswing and looks for further direction.

 

FTSE 100 The FTSE 100 closed essentially unchanged from the previous day trading on Tuesday after a tug of war match between bulls and bears during the day. The index is likely to remain in a consolidative mode in the next several sessions. Support below at 6400 and resistance above at 6520.

 

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

 

---