18.11.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 has not changed the dynamics and continues to consolidate within a narrow corridor 2030-2040. For continuation of growth, the price needs to gain a foothold above the level of 2040. Increase is limited by 2050. We expect a price drop in the near future, but recommend to wait for fixation of price below 2000 that will confirm a sell signal. Our medium-term view 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 after an unsuccessful attempt of fixing the price below 9190, began to grow and reached an important the level of 9400. In case of overcoming this mark, quotes will continue to increase until 9600. Despite this, we maintain our negative view of the medium-term and recommend to open short positions in case of fixing the price below 9190 with objectives of 8600 and 8000 and a stop above 9400.
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 yesterday's correction, rebounded from the important support level of 17000 and compensated most of the losses. Currently quotations renewed decline. In case of continued reduction and fixation of the price below 16700, we recommend to close long positions. Our medium-term outlook remains positive with the closest target about 18000.
Nearest resistance levels: 17500, 18000
Nearest support levels: 17000, 16700, 16400, 16000, 15800, 15450, 15200, 15000, 14800