20.10.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 continued to correct upwards and reached the level of 1900. For overcoming and fixing the price higher than 1900 will be needed a strong incentive. Further growth is limited by the resistance levels at 1915 and 1950. In case of overcoming the level of 1915, we recommend to close short positions. Our medium-term outlook remains negative with a target around 1780 and we recommend holding short positions.

Nearest resistance levels: 1900, 1915, 1940, 1950, 1980, 2000

Nearest support levels: 1886, 1860, 1820, 1780

The price of the futures on the German stock index DAX30 corrected up to a strong level of 9190. In case of breaking and consolidation above this level, it is recommended to close short positions. Despite the upward momentum, medium-term trend remains negative. We expect further price decline and recommend holding short positions with the targets of 8600 and 8000. Our medium-term outlook remains negative.

Nearest resistance levels: 9190, 9400, 9600, 9800, 9870, 10030

Nearest support levels: 9000, 8900, 8600, 8200, 8000

The price of the futures on the Japanese stock index Nikkei225 within the strong upward correction reached the important level of 15000. It is worth mentioning that price went up to a strong inclined line of resistance. Fixing the price above 15000 will be a signal to close short positions. Despite the current growth, we maintain the mid-term negative outlook and recommend holding short positions to 14000.

Nearest resistance levels: 15200, 15450, 15650, 15800, 16000, 16100

Nearest support levels: 14800, 14500, 14000, 13400

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