03.06.2014 - Technical view on stock indexes

The price of the futures on a wide U.S. stock index S&P500 has corrected within the local ascending channel and reached its lower limit. In case of further decline, the targets will be at 1915 and 1900. We expect the correction to continue and save a long-term negative outlook on futures.

Nearest resistance levels: 1950, 2000

Nearest support levels: 1920, 1915, 1900, 1886, 1873, 1860, 1840, 1813

The price of the futures for German stock index DAX30 continues to consolidate below the strong resistance at 10000. The further growth is limited by the psychological level of 10000 and the upper border of the rising channel. Within the correction the price may fall to 9800 and 9700. Considering long-term growth and resistance the upper boundary of the channel as the resistance, we expect a downward correction and maintain a medium-term negative outlook for the futures.

Nearest resistance levels: 10000

Nearest support levels: 9800, 9700, 9635, 9400, 9190, 8915

The price of the futures for a wide Japanese stock index Nikkei225 continued the growth and has overcome the psychological level of 15,000. To continue the upward movement, the price needs to gain a foothold above this level. In case of correction, the price may drop to 14700. We expect the price growth of the futures in the medium term.

Nearest resistance levels: 15000

Nearest support levels: 14700, 14600, 14500, 14000, 13900

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