17.06.2014 - Technical view on stock indexes
Price of the futures on the broad U.S. stock index S&P500 rebounded from the top of the rising channel and reached the strong level of 1940. The further growth is limited by historical maximums around 1950, after reaching of which we expect the resumption of the downward movement. We maintain a medium-term negative outlook.
Nearest resistance levels: 1950, 2000
Nearest support levels: 1920, 1900, 1886, 1873, 1860, 1813
Price of the futures on German index DAX30 has failed to overcome the lower boundary of the rising channel and started to grow within it. For the continued growth, the price needs to break and gain a foothold above the psychological mark of 10,000. We expect a decrease of futures and recommend to open short positions after the price fixing below 9890.
Nearest resistance levels: 10000
Nearest support levels: 9800, 9700, 9630, 9400, 9200
The price of futures on Japanese index Nikkei225 again reached the psychological mark of 15,000. The signal for further action will be the price leaving the side corridor 14800-15200. In the medium term continued growth is more probable, but in the coming days, the futures price will move in the corridor 14800-15200.
Nearest resistance levels: 15200
Nearest support levels: 14800, 14600, 14500, 14400, 14000, 13900