01.10.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 continues moving inside the descending channel, but it cannot fix below 1970. Despite this, fixing the price below the 1980 and the intersection of SMA50 and SMA200 indicates a further decline in price. Growth is limited by the level of 2000, we recommend holding short positions with a stop above 2000 and maintain medium-term negative outlook.
Nearest resistance levels: 2000, 2010, 2020, 2050
Nearest support levels: 1950, 1940, 1915, 1900, 1886, 1873
The price of the futures on the German stock index DAX30 reached the target level of 9400 and rebounded upwards. Further growth is limited by a strong level of 9600. We expect the decline of quotations within the downward channel and recommend holding short positions with the targets of 9190 and 8900. Our medium-term outlook also remains negative and we see no signals for a trend reversal.
Nearest resistance levels: 9600, 9800, 9870, 10030, 10500
Nearest support levels: 9400, 9190, 9000, 8900, 8600, 8000
The price of the futures on the Japanese stock index Nikkei225 continues to consolidate between the support level near 16100 and a sloping line of resistance. A significant reduction in the amplitude of the oscillations indicates a strong movement in the coming days. Considering the fact that the price has broken through the lower boundary of the rising channel and stopped the growth, we recommend to close long positions in case of price reduction below 16000. Growth potential decreased significantly, but our medium-term outlook remains positive.
Nearest resistance levels: 16500, 17000
Nearest support levels: 16100, 16000, 15800, 15650, 15500, 15350, 15200, 15000