18.07.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 broke the lower boundary of the rising channel and reached an important level of 1950, and then started to correct upwards. In case of continued upward movement price can achieve the levels of 1965 and 1985. Potential for further growth is reduced. We maintain a medium-term negative outlook and recommend opening short positions after the price fixing below 1950.
Nearest resistance levels: 1965, 1985, 2000
Nearest support levels: 1950, 1930, 1915, 1900, 1886, 1873
The price of the futures on the German stock index DAX30 continued to fall after it failed to overcome the resistance at 9870. Now the price is consolidating around the level of 9700. The fall of prices will likely accelerate after fixing below 9635. The growth is limited by the resistance at 9800 and 9870. Medium-term outlook remains negative with the objectives of 9635 and 9400.
Nearest resistance levels: 9800, 9870, 10030, 10500
Nearest support levels: 9635, 9400, 9190, 8915
The price of the futures on the Japanese stock index Nikkei225 has broken through the inclined level of support and now is consolidating around 15200. The price movement in the corridor 15000-15500 may continue in the coming days. Signal to open positions will be the price fixing outside this corridor. We maintain a medium-term positive outlook despite the decline in the potential for further growth.
Nearest resistance levels: 15500, 15800
Nearest support levels: 15000, 14700, 14600, 14400, 14000, 13900