OSB Daily Technical Analysis for November 25, 2014

The S&P 500 continues to edge higher even when trading in a very tight range. Market likely to trade in a tight range for remaining of the week as we close in on Thanksgiving.

 

The Dow closed essentially unchanged on the day on Monday trading within a very tight trading range on the day. This type of action is likely to continue for the rest of the week. Light trading and tight range bound trading. Any pullback likely to be bought into.

 

The FTSE sold off slightly on Monday however continues to trade in a tight trading range and remains in a bullish upswing for now. Support below at 6700 likely to be a base for now on the downside. Resistance above in the 6780 area.

Bullish day for the DAX on Monday which pushed higher closing above the 9800 level making a new monthly high. The DAX is strongly bullish and likely to continue the upward trajectory into new highs.

Bullish start to the week for the Nikkei which edged higher on the day and continues to consolidate at this higher level. The Nikkei is a buy only market for now and any corrections are likely to be short lived.

 

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