10.12.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 reached the strong support level at 2040, but failed to gain a foothold below it and began the sharp upward correction. In case of continued upward correction, the goal will be the level of 2080. Potential growth of the price significantly decreased and increased the likelihood of a significant price correction in the medium term. We maintain a negative medium-term outlook, but to wait for recommend fixing of the price below the level of 2040 to open short positions.

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 reached an important the level of 9800, but was unable to fix below it, and now continues to consolidate around 9870. The growth of quotations is limited by the level of a local maximum near 10080. In case of fixing the price below 9800, we recommend to open short positions with the targets of 9400 and 9190. Our medium-term outlook remains negative.

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 within the downward correction has reached the lower limit of the upward channel and now is consolidating near the level of 17500. In case of further reducing and fixing the price below 17200, we recommend to close long positions. At the moment, there is a possibility of rebound from the lower boundary the price of the rising channel. We maintain our positive outlook for the medium-term with the target at 20000.

Nearest resistance levels: 17500, 18000

Nearest support levels: 17000, 16700, 16400, 16000, 15800, 15450, 15200, 15000

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