OSB Daily Technical Analysis for November 26, 2014

Quiet session for the S&P 500 which traded in a tight range throughout the day. Light volumes expected for the rest of this week as the index takes a pause for US Thanksgiving celebrations.

The Dow closed essentially unchanged on the day giving back several points. The Dow is a longer term buy opportunity and any pullbacks during this week might prove to be good entry points.

The FTSE tried to rally and push above resistance the 6750 area which proved too resistive for now. FTSE likely to consolidate in the 6700-800 area as it prepares to push higher. Some push back at these levels is likely.

DAX continued to break out on Tuesday making a new monthly high. Index looks ready to make a push for the 10000 mark. Resistance above in the 9950 area possible to provide some push back. A close above extends to the big 10K figure.

Nikkei consolidating at higher ground testing the 17500 area which is still very resistive. The Nikkei is likely to continue consolidating at this higher level prior to pushing higher.

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