04.07.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 after consolidation near the upper limit of the upward channel broke through it and continued the upward movement to 2000. Within the next few days price growth continuation is possible, but its potential is limited. We expect the correction of the futures in the coming weeks and maintain medium-term negative outlook.

Nearest resistance levels: 2000

Nearest support levels: 1975, 1965, 1950, 1930, 1915, 1900, 1886, 1873

The price of the futures on the German stock index DAX30 after consolidation above the level of 9900 continued to rise and reached 10000 and has overcome an inclined resistance line. For further price growth is needed to gain a foothold above 10000. We expect the futures price decline in the near future to 9800 and maintain medium-term negative outlook.

Nearest resistance levels: 10500

Nearest support levels: 10000, 9870, 9800, 9700, 9635, 9400, 9190, 8915

The price of the futures on the Japanese stock index Nikkei225 approached the level of the nearest local maximum of about 15500, and continues to consolidate below this mark. In case of continued growth and fixation above 15500, the quotes can reach the upper boundary of the channel. Downward correction is limited by the support at 15200 and the bottom of the channel. We maintain medium-term positive outlook.

Nearest resistance levels: 15500, 15800

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

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