07.11.2014 - ​Technical view on stock indexes

The price of the futures on the American stock index S&P500 continued the growth after overcoming the important level of 2020. Currently, quotations are moving within the local rising channel. In case of renewal of falling of price, a signal to sell will be fixing the price below the level of 1970. We maintain a medium-term negative outlook but forecast the growth of price in the near future.

Nearest resistance levels: 2050

Nearest support levels: 2020, 2000, 1990, 1950, 1915, 1900, 1886, 1860, 1820, and 1780

The price of the futures on the German stock index DAX30 has grown and now is consolidating near the level of 9400. Further growth is limited by the resistance near 9600-9630 and the top of the rising channel. In case of trend change, confirmation of a sell signal will be breaking through the lower boundary of the local rising channel and fixing the price below 9200. Our medium term view remains negative.

Nearest resistance levels: 9600, 9800, 9870, 10030

Nearest support levels: 9190, 9000, 8800, 8600, 8200, 8000

The price of the futures on the Japanese stock index Nikkei225 is consolidating level of near 17000 and on the price chart was formed "pennant", which is a pattern of continuation of the trend. In this regard, we recommend holding long positions. Fall is limited by the level of 16400. We maintain a medium-term positive outlook and forecast strong upward price movement today.

Nearest resistance levels: 17000, 17500

Nearest support levels: 16700, 16400, 16000, 15800, 15450, 15200, 15000, 14800, 14500

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.