17.11.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 continues to consolidate below the level of 2040 and cannot continue to grow. In case of continued growth, the quotes can reach the level of 2050, but to overcome the strong resistance of 2040 is needed a substantial boost. We forecast a drop in prices in the medium term. Signals to open short positions will be fixing prices below 2000. Our medium term outlook remains negative.
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 was not able to continue to grow and now is consolidating near the level of 9190. Growth of price is limited by the level 9400. We forecast a fall in price in the medium term. Signals to open short positions will be fixing the price below 9190. Our medium term outlook remains negative with goals 8600 and 8000, but we recommend to wait for the confirmation of the signal to open short positions.
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 a long consolidation below the important level of 17500, started to decline and reached the psychologically important mark of 17000. In case of continued downward movement and the breaking through the local minimum near 16700, we recommend to close long positions and wait for the signal for further actions. Despite the decline in the price, we keep medium term positive outlook with the immediate goal of near 18000.
Nearest resistance levels: 17500, 18000
Nearest support levels: 17000, 16700, 16400, 16000, 15800, 15450, 15200, 15000, 14800