09.12.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 continues to decline after breaking through the lower boundary of the rising channel. At the moment, the price reached a local minimum at 2050 and can bounce upwards. In case of breaking this mark, the confirmation of the signal for the opening of short positions will be overcoming the level of 2040. The increase is limited by the level of 2080. We expect price correction and maintain the medium-term negative outlook.
Nearest resistance levels: 2080, 2100
Nearest support levels: 2040, 2020, 2000, 1990, 1950, 1915, 1900, 1886, 1860, 1820
The price of the futures on the German stock index DAX30 failed to gain a foothold above the level of 10000 and corrected down. Within the decline, quotes reached a strong support level at 9870. In case of fixation below this mark and breaking through the level of 9800, we recommend to open short positions with the objectives at 9400 and 9190 and a stop above 10100. We expect a decline in prices in the medium term.
Nearest resistance levels: 10000, 10300
Nearest support levels: 9870, 9800, 9600, 9400, 9190, 9000, 8800, 8600, 8200, 8000
The price of the futures on the Japanese stock index Nikkei225 continued to decline after an unsuccessful attempt to fix above the upper boundary of the rising channel and the level of 18000. Further reduction is limited by the support level at 17500 and the lower boundary of the channel. Despite the current drop, we recommend holding long positions with a stop below 17200 and maintain a medium-term positive outlook.
Nearest resistance levels: 18000
Nearest support levels: 17500, 17000, 16700, 16400, 16000, 15800, 15450, 15200, 15000