10.10.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 resumed its downward movement and has broken through the level of the nearest local minimum near 1940. It is worth noting that the quotes were not able to reach the target level 1915, but according to our estimates in the near future, the price will continue to decline. Growth is limited by the resistance near 1980. Volatility soon will fall. We maintain a medium-term negative outlook and recommend holding short positions.

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 after the upward correction inside the descending channel has renewed decline and hit its target of 8900. The correction is possible to the psychologically important mark near 9000, we expect further price decline with the objectives of 8600 and 8000. We recommend holding short positions and maintain a medium-term negative outlook.

Nearest resistance levels: 8900, 9000, 9190, 9400, 9600, 9800, 9870, 10030

Nearest support levels: 8600, 8000

The price of the futures on the Japanese stock index Nikkei225 has broken through the support level 15450 and continued to decline. The intersection of SMA50 and SMA200 was the confirmation of signal to sell. Currently quotes are consolidated above 15200 and given the current trend will continue to fall with the targets near 14800. We maintain a medium-term negative outlook and recommend holding short positions.

Nearest resistance levels: 15450, 15650, 15800, 16000, 16100, 16500, 17000

Nearest support levels: 15200, 15000, 14800

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