09.02.2015 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 could not overcome the strong resistance level at 2070, and started to sharply correct downwards. Fixing the price below the level of 2050 will be the cause for further fall in price to the target levels at 2025, and 1990. According to our estimates, quotes will continue to consolidate within the corridor 1990-2070 in the near future. To determine the direction of price movement in the medium term will be required new signals.
Nearest resistance levels: 2070, 2090, 2100, 2150, 2200
Nearest support levels: 2025, 2000, 1975, 1950, 1915, 1900, 1886, 1860, 1820
The price of the futures on the German stock index DAX30 decreases after breaking through the lower boundary of the rising channel. At the moment, quotes approached the important support level at 10600. Breaking through this level will be a signal for the continuation of the downward price movement with the potential fall up to 10300, and 10000. Our medium-term outlook remains positive, but we expect a further decline of prices in the near future.
Nearest resistance levels: 10800, 11000, 11200, 11500, 12000
Nearest support levels: 10600, 10300, 10100, 10000, 9600, 9400, 9190, 9000
The price of the futures on the Japanese stock index Nikkei225 corrected within the local rising channel and reached its lower limit. In case of continued downward movement and fixing the price below 17550, we expect a further drop in prices to the levels of 17200 and 16550. The growth of price in the near future is limited by resistance levels around 17900 and 18000. Our medium-term outlook remains positive, but in the near future we will probably see a decline.
Nearest resistance levels: 17900, 18000, 18600, 19000
Nearest support levels: 17550, 17200, 16600, 16400, 16000, 15800, 15450, 15200