10.06.2014 - Technical view on stock indexes

Futures price on the U.S. benchmark S&P500 could not gain a foothold above the level of 1950 and corrected within a narrow rising channel. In case of further decline, the signal to sell will be price fixing below 1938. Potential for further growth is insignificant and we expect a substantial correction of the futures in the medium term and maintain long-term negative outlook.

Nearest resistance levels: 1950, 2000

Nearest support levels: 1920, 1915, 1900, 1886, 1873, 1860, 1840, 1813

Futures price on German index DAX30 continues to consolidate below the psychological mark of 10,000. To continue the growth inside the rising channel, the price needs to fix above this mark. We forecast the beginning of the futures price correction in the coming days, with targets at 9800 and 9700.

Nearest resistance levels: 10000

Nearest support levels: 9800, 9700, 9635, 9400, 9190, 8915

Futures on the Japanese stock index Nikkei225 failed to overcome the level of 15200, began to decline and broke the lower boundary of rising channel. Now the price is trying to consolidate below the psychological mark of 15000 that will be a signal to open short positions with the targets at 14600 and 14400. We expect the growth of price in the medium term.

Nearest resistance levels: 15000 15500

Nearest support levels: 14700, 14600, 14400, 14000, 13900

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