OSB Daily Technical Analysis for November 28, 2014

The S&P 500 was closed on the Thursday due to Thanksgiving. Friday trading is half day.

The Dow Jones was closed on the Thursday due to Thanksgiving. Friday trading is half day.

The FTSE 100 declined slightly on Friday after trying to rally in the early session. The FTSE fell short in the 6750 area which is proving to be resistive for now. Overall bullish bias remains intact with correction and consolidation a natural course of events.

The DAX rallied towards the 10000 mark on Thursday falling short of a few points. Bullish momentum is on the rise with the index likely to retest and take this key level during this up leg. Some push back and increased volatility to be expected.

The Nikkei sold off briefly on Thursday giving back almost 1% on the day as it continues to consolidate at higher levels. Upside momentum appears to be weakening in the shorter term however the longer term bullish outlook remains intact for now. Further consolidation and range bound action likely to continue.

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