18.09.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 showed a strong increase in volatility yesterday, but did not move beyond the limits of the channel 1990-2010. Currently quotes continue to consolidate near the strong level of 2000. The growth is limited by the level of 2010, after overcoming of which, we can revise our medium-term negative outlook. We recommend holding short positions with the objectives of 1950 and 1915, and the stop above 2010.

Nearest resistance levels: 2010, 2050

Nearest support levels: 1990, 1975, 1950, 1940, 1915, 1900, 1886, 1873, 1850, 1780

The price of the futures on the German stock index DAX30 has broken through the upper limit of the local downward channel after it failed to gain a foothold below 9600. In case of continuation of growth, a buy signal will be price fixing above the level of 9870. We recommend to open short positions after fixing of quotations below the level of 9600. Our medium-term outlook remains negative.

Nearest resistance levels: 9800, 9870, 10030, 10500

Nearest support levels: 9600, 9400, 9190, 9000, 8900, 8600, 8000

The price of the futures on the Japanese stock index Nikkei225 managed to break the psychologically important level of 16000. The price fixation above this level will confirm the medium-term positive outlook. Correction is possible to the inclined support line and the level of 15800. Fixing the price below 15600 will be a signal on change in trend. We recommend holding long positions with a stop below 15600.

Nearest resistance levels: 16300, 16500, 17000

Nearest support levels: 16000, 15800, 15650, 15500, 15350, 15200, 15000, 14800

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