11.11.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 historical highs and currently is consolidating near the level of 2040. At the moment, quotations continue to move along the lower boundary of the local rising channel. In case of reduction, the signal to open short positions will be fixing the price below 2000. The potential for further growth is reduced. We keep a medium-term negative outlook, but anticipate reaching the level of 2050 in the closest future.

Nearest resistance levels: 2050

Nearest support levels: 2020, 2000, 1990, 1950, 1915, 1900, 1886, 1860, 1820, 1780

The price of the futures on the German stock index DAX30 failed to gain a foothold above the level of 9400 and returned to the bottom of rising channel and continues to rise gradually along its border. For continued growth within the channel with the objectives of 9600 and 9800, the price needs to be fixed above 9400. In case of reduction, the signal will be at sale fixing the price below 9190. We keep a medium-term negative outlook.

Nearest resistance levels: 9400, 9600, 9800, 9870, 10030

Nearest support levels: 9190, 9000, 8800, 8600, 8200, 8000

The price of the futures on the Japanese stock index Nikkei225 after breaking through the upper boundary of the triangle started to rise dramatically in the near future will reach 17500. To continue growth the price needs to overcome this level. We recommend holding long positions with a stop below 16700 and the immediate target near 18000. Our medium-term forecast remains positive.

Nearest resistance levels: 17000, 17500

Nearest support levels: 16700, 16400, 16000, 15800, 15450, 15200, 15000, 14800, 14500

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