17.10.2014 - ​Technical view on stock indexes

The price of the futures on the American stock index S&P500 failed to gain a foothold below 1860 and is gradually increasing. Currently quotes broke through the upper limit of the downward channel, and may continue to rise to the level of 1900. We recommend holding short positions with a stop above 1900 and maintain a medium-term negative outlook with a target around 1780.

Nearest resistance levels: 1886, 1900, 1915, 1940, 1950, 1980, 2000

Nearest support levels: 1860, 1820, 1780

The price of the futures on the German stock index DAX30 adjusted upwards after rebounded from the level of 8400. In case of continued upward correction and fixing the price beyond descending channel quotes can grow up to 9000. Despite the current short-term upward momentum, we expect the price decline in the medium term with a target about 8000.

Nearest resistance levels: 8900, 9000, 9190, 9400, 9600, 9800, 9870, 10030

Nearest support levels: 8400, 8200, 8000

The price of the futures on the Japanese stock index Nikkei225 continues to consolidate near the level of 14600. Now the price reached the upper limit of the local downward channel. The growth of quotations is limited by the psychologically important mark of 15000. We recommend holding short positions with targets at 14000 and 13600 and the stop above 15200. We maintain a medium-term negative outlook.

Nearest resistance levels: 14800, 15000, 15200, 15450, 15650, 15800, 16000, 16100

Nearest support levels: 14500, 14000, 13400

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