03.12.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 could not gain a foothold under the lower boundary of the rising channel and returned to its limits. In case of repeated breaking the boundaries of the channel and fixing the price below 2040, we recommend to open short positions with the objectives at 2000, 1950 and 1915. The growth of quotations is limited by the upper border of the channel and the psychologically important level of 2100. We expect the growth of quotations in the near future, but keep medium-term negative outlook.
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 cannot continue to grow and consolidates within a narrow channel 9870-10000. For further growth quotations must be fixed above 10000. In case of fall, a signal to sell with a stop above 10000 and target levels 9400 and 9190, will be fixing the price below 9800. Our medium-term outlook remains negative.
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 reached the top of the channel, but could not overcome it and now is consolidated within the channel. In case of correction, the price may drop to the bottom of the channel. We predict that in the near future quotes will continue to rise within the channel with a target near 18000, and recommend holding long positions with a stop below 17200. The medium-term outlook also remains positive.
Nearest resistance levels: 18000
Nearest support levels: 17500, 17000, 16700, 16400, 16000, 15800, 15450, 15200, 15000