03.09.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 continues to consolidate near psychologically important level of 2000. If the price will fix above this mark, we can see continued growth. Price reduction and consolidation below 1290 will be a signal to open short positions with target levels of 1950, 1915 and 1873. We maintain a medium-term negative outlook, and expect decrease in the near future.
Nearest resistance levels: 2050
Nearest support levels: 1990, 1975, 1950, 1940, 1915, 1900, 1886, 1873, 1850, 1780
The price of the futures on the German stock index DAX30 continued to rise after the consolidation along the bottom of the rising channel. The price has broken through the strong resistance level of 9635 and continues to grow. The closest target in case of further growth will be 9800. Despite this we maintain a medium-term negative outlook with the objectives of 9190 and 8600.
Nearest resistance levels: 9800, 9870, 10030, 10500
Nearest support levels: 9600, 9400, 9190, 9000, 8915, 8600, 8000
The price of the futures on the Japanese stock index Nikkei225 continues to consolidate below 15800, after it was unable to gain a foothold above this mark. Growth is also limited by sloped line of resistance. It is worth mentioning that 15800 is the level of local maximum and to overcome it will be needed a strong incentive. In case of correction, the price may be reduced to 15,500. We maintain a medium-term negative outlook.
Nearest resistance levels: 15800, 16000
Nearest support levels: 15500, 15350, 15200, 15000, 14800, 14700, 14600, 14400