07.10.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 after the upward correction to the level 1980 resumed the downward movement and in the near future will reach the level of 1950. In case of renewed growth and overcoming the level of 2000, we recommend closing short positions. Our medium-term outlook remains negative and we expect the price correction by 10-15%.

Nearest resistance levels: 1980, 2000, 2010, 2020, 2050

Nearest support levels: 1950, 1940, 1915, 1900, 1886, 1873

The price of the futures on the German stock index DAX30 resumed the fall in the descending channel and has broken through the target level 9190. We expect that in the near future the price will continue to fall with the objectives of 9000 and 8900. We recommend holding short positions with a stop above 9400 and maintain a medium-term negative outlook.

Nearest resistance levels: 9190, 9400, 9600, 9800, 9870, 10030, 10500

Nearest support levels: 9000, 8900, 8600, 8000

The price of the futures on the Japanese stock index Nikkei225 stabilized below 16000 after it showed a strong increase in volatility. Further price growth is limited by the inclined resistance line and the psychologically important mark of 16000. In the nearest future we can see a continuation of falling of the price due to the change of the uptrend. Short position should be opened after fixing the price below 15650. We expect a price drop in the short term.

Nearest resistance levels: 16000, 16100, 16500, 17000

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

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