02.10.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 accelerated the decline within the descending channel and reached its lower limit. Now quotations are consolidating near the level of 1950. In the nearest future we may see a minor correction, but expect a further decline in price to the next target level 1915. Our medium-term outlook remains negative and we recommend holding short positions with a stop above 1990.
Nearest resistance levels: 1990, 2000, 2010, 2020, 2050
Nearest support levels: 1940, 1915, 1900, 1886, 1873
The price of the futures on the German stock index DAX30 after correction to the upper limit of downward channel has resumed decline and has broken through the level of 9400. Descending movement of price is likely to continue in the near future to the levels of 9190 and 8900. The growth is limited by the level of 9600, we recommend holding short positions with a stop above 9630 and maintain a medium-term negative outlook.
Nearest resistance levels: 9400, 9600, 9800, 9870, 10030, 10500
Nearest support levels: 9190, 9000, 8900, 8600, 8000
The price of the futures on the Japanese stock index Nikkei225 after a long consolidation, started to decline sharply and has broken through the psychologically important support level of 16000. Considering strong downward impulse, we expect further descending movement in the near future with the objectives 15200 and 14800. We are revising the medium-term outlook to negative and recommend to open short positions.
Nearest resistance levels: 15800, 16000, 16100, 16500, 17000
Nearest support levels: 15650, 15500, 15350, 15200, 15000, 14800