06.10.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 after reaching the level of 1940 started to correct downwards and has broken through the upper limit of the local downward channel. Currently quotes are consolidating near the level of 1975. The growth of quotations above 2000 is unlikely and we expect the resumption of the downward movement. Our medium-term outlook remains negative.

Nearest resistance levels: 1990, 2000, 2010, 2020, 2050

Nearest support levels: 1940, 1915, 1900, 1886, 1873

The price of the futures on the German stock index DAX30 after reaching the target level of 9190, and the lower limit of downward channel, corrected upwards and may soon reach the level of 9400, and the upper boundary of the channel. Despite the corrective movement, the growth potential is minimal and we recommend holding short positions with a target near 8900. Our medium-term view remains negative.

Nearest resistance levels: 9400, 9600, 9800, 9870, 10030, 10500

Nearest support levels: 9190, 9000, 8900, 8600, 8000

The price of the futures on the Japanese stock index Nikkei225 after a sharp rise of volatility has stabilized below 16000. For the continuation of the upward movement, the price needs to overcome this level and to gain a foothold above it. We expect the resumption of the downward movement of price in the medium term. We have revised our medium-term positive outlook and look forward for the new signals to determine future price movements.

Nearest resistance levels: 16000, 16100, 16500, 17000

Nearest support levels: 15800, 15650, 15500, 15350, 15200, 15000, 14800

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