17.12.2014 - ​Technical view on stock indexes

The price of the futures on the American stock index S&P500 reached the lower boundary of local descending channel and the level of 1980. In the near future quotations will probably correct within the channel and will reach the level of 2000. The intersection of SMA50 and SMA200 is a confirmation to further decrease of prices. We recommend holding short positions and keep medium term negative outlook.

Nearest resistance levels: 2000, 2025, 2040, 2080, 2100

Nearest support levels: 1980, 1950, 1915, 1900, 1886, 1860, 1820

The price of the futures on the German stock index DAX30 after it almost reached the target level of 9190, started to correct upwards and has overcome the level of 9400. Further growth within the correction is limited by the level of 9600. We expect a resumption of the downward movement in the near future and keep the medium-term negative outlook with the objectives of 9190 and 8900 and a stop above 9870.

Nearest resistance levels: 9600, 9800, 10000, 10300

Nearest support levels: 9400, 9190, 9000, 8800, 8600, 8200, 8000

The price of the futures on the Japanese stock index Nikkei225 rebounded from the bottom of the local descending channel and corrected to the level of 17000 and the upper boundary of the channel. In the near future drop in prices is likely to continue with the objectives of 16000 and 15800. The growth is limited by the level of 17200. We recommend holding short positions and maintain a negative outlook for the near future.

Nearest resistance levels: 17000, 17200, 17500, 18000

Nearest support levels: 16700, 16400, 16000, 15800, 15450, 15200, 15000

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