16.10.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 yesterday showed a strong increase in volatility and reached the level of 1820, the moment the prices reached the strong level of 1860 and the upper limit of the downward channel. We recommend holding short positions with the immediate goal near 1780. Stop should be set above the level of 1920. Our medium-term view remains negative.
Nearest resistance levels: 1873, 1886, 1900, 1915, 1940, 1950, 1980, 2000
Nearest support levels: 1850, 1820, 1780
The price of the futures on the German stock index DAX30 is consolidating near the next target 8600. The price continues to decline steadily in the descending channel and will likely continue the downward movement to the level of 8000. We recommend holding short positions with a stop above 9000. At the moment, there is no reason for changing the negative trend. We maintain a medium-term negative outlook.
Nearest resistance levels: 8900, 9000, 9190, 9400, 9600, 9800, 9870, 10030
Nearest support levels: 8200, 8000
The price of the futures on the Japanese stock index Nikkei225 stopped the decline after reaching the lower limit of the downward channel. In case of correction the price may rise to the psychologically important mark of 15000, above which we recommend to set a stop. According to our forecast decline in quotations will continue in the medium term. We recommend holding short positions and maintain a medium-term negative outlook.
Nearest resistance levels: 14800, 15000, 15200, 15450, 15650, 15800, 16000, 16100
Nearest support levels: 14500, 14000, 13400