08.10.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 accelerated the decline and has broken through the support level of 1940 and is trying to gain a foothold below this mark. Increase in price is limited by a strong resistance level at 1980, we expect a further drop in prices and recommend holding short positions. The medium-term outlook remains negative with the target near 1780.
Nearest resistance levels: 1940, 1950, 1980, 2000, 2010, 2020, 2050
Nearest support levels: 1915, 1900, 1886, 1873
The price of the futures on the German stock index DAX30 continued to decline in the descending channel and reached another target 9000. This level is psychologically important and after breaking through and consolidation below this mark, we expect the price to fall to 8600. In case of correction, quotes, can grow up to 9190 and the upper limit of the channel. We recommend holding short positions 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 fell to 15500, but could not overcome it and now are correcting upwards. The growth of quotations is limited by the level of 16000 and the inclined resistance line. We expect further price decline in the medium term. Target levels with a further reduction will be 15200 and 14800.
Nearest resistance levels: 15650, 15800, 16000, 16100, 16500, 17000
Nearest support levels: 15500, 15350, 15200, 15000, 14800