05.11.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 cannot overcome the historical maximum level near 2020. For continued growth with the target around 2050, quotes need to gain a foothold above this level. The most likely is the resumption of the downward movement in the near future. Sell signals will be fixing the price below 1970. Our medium term outlook remains negative.
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 continues to consolidate above the level of 9190 and move inside the rising channel. Growth of price is limited by the resistance at 9400 and the upper boundary of the rising channel. In case of reduction, a signal to sell will be breaking through the bottom of the channel and fixation of quotations below 9000. Our medium term view remains negative.
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 after correction returned to the psychologically important level of 17000. According to our estimates in the near future the price will continue to consolidate near this mark, and then will continue growth. The fall is limited by the levels of 16700 and 16400. We maintain a medium-term positive outlook and recommend holding long positions.
Nearest resistance levels: 17500
Nearest support levels: 17000, 16400, 16000, 15800, 15450, 15200, 15000, 14800, 14500