02.07.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 has overcome a strong resistance level at 1965 and reached historical highs. At the moment the price is consolidating near the upper limit of the ascending channel and probably will correct downward. Within the current trend, quotations may reach the psychological mark of 2000. We maintain a medium-term negative outlook and expect a trend reversal.
Nearest resistance levels: 2000
Nearest support levels: 1965, 1950, 1930, 1915, 1900, 1886, 1873
The price of the futures on the German stock index DAX30 continued to grow after it has reached the strong support level at 9800. The further growth is limited by the psychological resistance level of about 10,000. The signal to open short positions will be below the price fixing 9800. We expect the resumption of the downward movement and maintain a medium-term negative outlook.
Nearest resistance levels: 10000
Nearest support levels: 9870, 9800, 9700, 9635, 9400, 9190, 8915
The price of the futures on the Japanese stock index Nikkei225 continued to rise and reached the target level of 15450. To continue the upward movement within the channel, the price has to overcome and gain a foothold above the level of 15500. The correction is possible to 15200. We maintain a positive outlook for the medium-term and recommend holding long positions.
Nearest resistance levels: 15450, 15800
Nearest support levels: 15200, 15000, 14700, 14600, 14400, 14000, 13900