09.09.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 is consolidating within the corridor 1990-2010. To open new positions we should wait for the price fixing beyond this corridor. More likely is the beginning of the price correction. Confirmation of a sell signal will be fixation lower than 1990. Nearest targets are located on the 1950 and 1915. We maintain a medium-term negative outlook.
Nearest resistance levels: 2010, 2050
Nearest support levels: 1990, 1975, 1950, 1940, 1915, 1900, 1886, 1873, 1850, 1780
The price of the futures on the German stock index DAX30 could not break the strong level of 9800 and now is consolidating below this mark. Further growth inside the rising channel is limited by the resistance at 9870. We anticipate the start of downward movement in the near future and recommend to open short positions after breaking through the bottom of the channel and fixing prices below 9600. We maintain a medium-term negative outlook.
Nearest resistance levels: 9800, 9870, 10030, 10500
Nearest support levels: 9630, 9400, 9190, 9000, 8900, 8600, 8000
The price of the futures on the Japanese stock index Nikkei225 continues to consolidate inside the rising channel and is clamped within the local triangle. In this regard, we expect strong price movements in the near future. Long positions should closed and short to be opened after a price fixation below 15600. We maintain a medium-term positive outlook.
Nearest resistance levels: 15800, 16000
Nearest support levels: 15650, 15500, 15350, 15200, 15000, 14800, 14700, 14600, 14400