OSB Daily Technical Analysis for November 11, 2014

S&P 500 The S&P 500 rallied to an all-time high on Monday and making new highs in three of the last five sessions. This action suggests the index has only higher to go with the 2050 mark becoming a very realistic target in the short term. Bullish.

Dow 30 The Dow started the week on a positive note closing at a new high at 17553. The Dow is in a one way market and is likely to test the 17600 area in the near future. With that in mind any short term sell-off are most probably to be short lived and bought into as bears are nowhere to be seen for now.

DAX 30 The DAX pushed higher on Monday hitting resistance at the 200 DMA in the 9350 area. A close above is likely to see the index testing recent resistance at 93450 and further above at 93500. A close above is bullish and extends the index into bullish territory.

FTSE100 Positive start to the week for the FTSE 100 which managed to climb above the key 6600 area. A close above the 200 DMA in the 6610 area extends the index to the 6700 level. Neutral – wait and see approach for now with bullish momentum on the rise.

 

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