18.12.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 started to rise sharply and broke through the upper limit of the local downward channel. At the moment, the quotes have reached an important level of 2040 and may continue to increase to 2060 and 2080, after which we expect the resumption of the downward movement. Our medium-term view remains negative and we expect the resumption of the downward movement after the end of the upward impulse.
Nearest resistance levels: 2080, 2100
Nearest support levels: 2040, 2025, 2000, 1980, 1950, 1915, 1900, 1886, 1860, 1820
The price of the futures on the German stock index DAX30 started to grow rapidly after failed to reach the second target level of 9190. As a result of the strong upward movement, quotes broke through the level of 9400 and 9600. At the moment, the price approached the level of 9800. Growth may continue to the levels of 2000-2100. Despite this, we expect a price drop in the medium term.
Nearest resistance levels: 9800, 10000, 10300
Nearest support levels for 9600, 9400, 9190, 9000, 8800, 8600, 8200, 8000
The price of the futures on the Japanese stock index Nikkei225 has broken the upper boundary of the local downward channel and fixed above the level of 17200, and then continued upward movement. At the moment, the quotes are consolidated near the important level of 17500 in the case of overcoming it will continue to grow to 18000. Now there is a high probability of price correction to the level of 17200. We recommend to wait for a signal to open positions.
Nearest resistance levels: 17500, 18000
Nearest support levels: 17200, 17000, 16700, 16400, 16000, 15800, 15450, 15200, 15000