03.11.2014 - ​Technical view on stock indexes

The price of the futures on the American stock index S&P500 reached a historic high and keeps consolidating below the level of 2020. In order to continue the growth the price needs to break through and gain a foothold above this mark. We expect a price correction and in case of fixing of quotations below 1975 we recommend to open short positions with immediate goals at 1950 and 1915.

Nearest resistance levels: 2020, 2050

Nearest support levels: 2000, 1990, 1950, 1915, 1900, 1886, 1860, 1820, 1780

The price of the futures on the German stock index DAX30 slowed the growth, but continues to rise gradually within the local rising channel. The growth is limited by the level of resistance at 9400. The signal for re-opening of short positions will be fixing the price below 9000. We maintain medium term negative outlook, but assume the possibility of continuing growth to the levels of 9600 and 9800.

Nearest resistance levels: 9400, 9600, 9800, 9870, 10030

Nearest support levels: 9190, 9000, 8800, 8600, 8200, 8000

The price of the futures on the Japanese stock index Nikkei225 after a sharp rise reached 17000 and keeps consolidating below this mark. Continued growth is possible after fixing the price above this level. Correction is possible to level 16400 and 16000. At the moment there is a high probability of short-term correction, but we keep the medium term negative outlook.

Nearest resistance levels: 17000, 17500

Nearest support levels: 16400, 16000, 15800, 15450, 15200, 15000, 14800, 14500

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