03.10.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 reached the level of 1940 and broke through the lower boundary of the local descending channel, but could not gain a foothold below it and now corrected upwards within the channel. In case of further growth, quotes will rise to the top of the channel. We predict that the price will continue to decline with the closest goals at 1915 and 1900 and recommend holding short positions.

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 has reached the target level of 9190 and the bottom of the channel and now is consolidating above this mark. In case of upward correction, the price may rise to the level of 9400, and the upper boundary of the channel. We look forward to continuing downward price movement to the levels 9000 and 8900. 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 dropped to 15400 and rebounded from it. Currently quotations approached the strong level of 15800 and fixing the price below this level will become a signal of a trend change to negative. We are revising our medium-term negative outlook and recommend to wait for confirmation of the signal for opening positions.

Nearest resistance levels: 15800, 16000, 16100, 16500, 17000

Nearest support levels: 15650, 15500, 15350, 15200, 15000, 14800

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