04.11.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 reached historical highs and continues to consolidate below it. To overcome this level will be needed a substantial boost. In case of reduction, the sell signal will be fixing the price below the level of 1970. At the moment there is a high probability the price rollback down. We maintain a medium-term negative outlook and expect the price correction in the near future.
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 cannot reach the level of 9400 and continues to consolidate in the corridor 9190-9400. Currently quotes are moving within the local rising channel and for the trend change is necessary to break through its lower boundary and to fix below the level 9000. According to our estimates, the growth will be short and we maintain a medium-term negative outlook.
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 has broken through the psychologically important level of 17000, but started to correct downwards. In case the continuation of the current downward movement, quotes will probably reach the level of 16400. Despite the current correction, we recommend holding long positions and forecast further growth of quotations and maintain a medium-term positive outlook.
Nearest resistance levels: 17000, 17500
Nearest support levels: 16400, 16000, 15800, 15450, 15200, 15000, 14800, 14500