14.05.2014 - Technical view on stock indexes
Price of the futures on a broad American stock index S&P500 has reached its historic high near 1900. For the further increase the price needs to gain a foothold above this mark. At the moment there is a high probability of a downward correction with targets at 1886 and 1873. We maintain a long-term negative outlook on the futures.
Nearest resistance levels: 1920, 1950, 2000
Nearest support levels: 1886, 1873, 1860, 1813
Futures on German index DAX30 has overcome the psychological level of 9700 and renewed six-year maximum. To continue the upward movement the price needs to gain a foothold above the level of 9700. In case of correction, the price may fall to 9630 and 9400. We maintain a long-term negative outlook for the futures, but we recommend to open long positions when fixing the price above 9700.
Nearest resistance levels: 9800 10000
Nearest support levels: 9700, 9630, 9400, 9200
The price of the futures on Japanese index Nikkei225 failed to overcome the level 14,500 and the upper limit of the local downward channel and began to decline gradually. With a further decline, the price probably will reach 14,100 and bottom of the channel. In case of further growth the signal to buy will be fixing above the local maximum at 14,625. We keep medium and long term negative outlook for the futures.
Nearest resistance levels: 14500, 14625
Nearest support levels: 14300, 14100, 13900