12.09.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 shows low volatility and is consolidated within the limits of a narrow channel 1990-2010. Potential for further growth is limited by the 2010 level in case of overcoming which we will revise our medium-term negative outlook. Confirmation of a sell signal will be fixing the price below 1990. Mid-term negative outlook remains unchanged.

Nearest resistance levels: 2010, 2050

Nearest support levels: 1990, 1975, 1950, 1940, 1915, 1900, 1886, 1873, 1850, 1780

The price of the futures on the German stock index DAX30 broke the lower boundary of the channel, but continues to consolidate above the important level of 9630. Breaking through this level will confirm the signal to open short positions. Target levels are 9400 and 8900. The growth is limited by the level of 9800. We maintain a medium-term negative outlook.

Nearest resistance levels: 9800, 9870, 10030, 10500

Nearest support levels: 9630, 9400, 9190, 9000, 8900, 8600, 8000

The Futures

The price of the futures on the Japanese stock index Nikkei225 is gradually growing, but failed to reach an important level of 16000. The signal for а trend change, closing long positions and opening short positions, will be breaking through the bottom of the channel and fixing of quotations below 15600. The growth potential decreased, but the medium-term outlook remains positive.

Nearest resistance levels: 16000

Nearest support levels: 15800, 15650, 15500, 15350, 15200, 15000, 14800, 14700, 14600

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