Thursday November 13: OSB Daily Technical Analysis – Indices 

OSB Daily Technical Analysis for November 13, 2014

S&P 500 The S&P 500 sold off briefly on Wednesday finding support in the 2025 area and managed to close just above 2030. This suggests bullish traders supporting the index at these lower levels as belief remains strong for higher prices. Pullbacks are likely to be short lived as the index remains bullish and gathers momentum to go higher.

Dow 30 The DOW followed suite from the S&P 500 and declined during the early session where it found support at the 17480 area. The market is well supported at this level and higher in the 17550 region. Dow remains strongly bullish and is likely to consolidate in this area as it looks to go higher.

 DAX 30 The DAX sold off on Wednesday failing to hold the 200 DMA and breaking below the 9200 handle. Support at the 50 DMA, 9245 and further below at 9200. DAX looks to be caught in a tight range at the moment and is likely to consolidate between 9200-9400 prior to finding further direction.

FTSE100 The FTSE 100 sold off and found support at the 1575 area prior to getting back above 6600. The FTSE is at a critical juncture and continues to test the 200 DMA for resistance. A close above extends to 6680 in the medium term. The market looks to be building a base in this area and is likely to head higher.

 

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

---