OSB Daily Technical Analysis for December 10, 2014

S&P 500 sell off broke the 20 DMA finding support at 2034 on the day but managed to erase the losses by the end of session to close essential flat on the day. Yesterday’s knee jerk session suggests some consolidation and bullish fatigue following a impressive up swing since mid October. Market likely to resume upward trajectory as we near the year end.

The Dow followed the general market sentiment and sold off throughout the session only to gather strength and regain losses by the close managing to remain above the 17800 mark on the day. Support beneath at 17725-50. Bullish bias remains intact.

The FTSE sold off heavily breaking below the 200 DMA on the day and giving away 2%+. Substantial damage on the chart for the FTSE suggests a possible change in sentiment with the scales tipping in favour of the bears. A break below 6500 puts the FTSE into a bearish trajectory.

High volatility and sell off for the DAX on Tuesday finding support just above the 20 DMA at 9785. Index likely to decline further as bearish sentiment in the market increases. Overall bullish bias remains intact for now however this remains open to question as further action unfolds.

Brief sell of for the Nikkei which closed lower on Tuesday but managed to remain above the 17800 mark. The Nikkei looking slightly overbought following the recent break above 18000. Some further correction and consolidation likely.

 

 

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

---