03.07.2014 - ​Technical view on stock indexes

The price of the futures on the American stock index S&P500 has stabilized around the level of 1975 and continues to consolidate around this level. It should be noted that the futures price moves along the top border of the ascending channel and may continue to grow within it to the level of 2000. We expect the price correction with the targets at 1965 and 1950 and maintain our negative forecast.

Nearest resistance levels: 2000

Nearest support levels: 1965, 1950, 1930, 1915, 1900, 1886, 1873

The price of the futures on the German stock index DAX30 slowed the growth after overcoming the important level of 9970. In case of continued dynamics quotations may grow to 10000. According to our assessment of the current situation, the futures price decline will probably resume soon. We expect the downward movement of the price in the medium term with a view near 9400.

Nearest resistance levels: 10000

Nearest support levels: 9870, 9800, 9700, 9635, 9400, 9190, 8915

The price of the futures on the Japanese stock index Nikkei225 after repeated attempt to gain a foothold above 15400 resumed the fall and will probably reach the support at 15200 and the lower limit of the upward channel. For the continued growth, the price needs to gain a foothold above 15450 and to overcome 15500. We maintain our medium-term positive view for the price of the instrument.

Nearest resistance levels: 15450, 15800

Nearest support levels: 15200, 15000, 14700, 14600, 14400, 14000, 13900

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