02.12.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 has broken through the lower boundary of the rising channel and after the decline to the level of 2050, resumed an upward movement. At the moment, quotes approached the lower boundary of the rising channel and in case of fixing the price below this level and breaking though the local minimum around 2040, we recommend to open short positions with a stop above 2080 and the goals of 2000, 1950 and 1915. The increase is limited by the level of 2100. Our medium-term forecast remains negative.
Nearest resistance levels: 2080, 2100
Nearest support levels: 2040, 2020, 2000, 1990, 1950, 1915, 1900, 1886, 1860, 1820
The price of the futures on the German stock index DAX30 after failing to overcome the level of 10000 returned within a narrow corridor 9870-10000. For the continued growth, quotations need to gain a foothold above the level of 10000. In case of decline, a signal to sell with a stop above 10000 and objectives of 9400 and 9190 will be fixing the price below 9800. We keep medium-term negative outlook and expect the reduction of prices in the near future.
Nearest resistance levels: 10000, 10030
Nearest support levels: 9870, 9800, 9600, 9400, 9190, 9000, 8800, 8600, 8200, 8000
The price of the futures on the Japanese stock index Nikkei225 continued the growth and has overcome the local maximum level of about 17600. Currently quotes are consolidated near the upper boundary of the rising channel, and will likely continue to rise within it soon. Fall is limited by the lower boundary of the channel and the level of 17200. We keep medium-term positive outlook and recommend holding long positions with a target 18000.
Nearest resistance levels: 18000
Nearest support levels: 17500, 17000, 16700, 16400, 16000, 15800, 15450, 15200, 15000