20.05.2014 - Technical view on stock indexes
Price of the futures on the broad U.S. stock index S&P500 rose yesterday and reached the upper limit of the corridor 1860-1886. Further growth is limited by resistance near 1900. Now there is a high probability of price reduction with the first target at 1873. We keep a long-term negative outlook on futures and expect the index fall in the near future.
Nearest resistance levels: 1886, 1900, 1920, 1950, 2000
Nearest support levels: 1873, 1860, 1813
Price of the futures on German index DAX30 rebounded from the bottom of the rising channel and is consolidating below the strong level of 9700. For continued growth, the price needs to gain a foothold above 9800. In case of decrease, a signal to sell will be price fixing below 9650. We keep a long-term negative outlook for the futures.
Nearest resistance levels: 9700, 9800, 10000
Nearest support levels: 9630, 9400, 9200
The price for Japanese futures on index Nikkei225 has broken through the support level at 14,000, but failed to gain a foothold below it and rebounded upwards from the bottom of the downward channel. Within continued growth, the price will probably reach the marks 14,300 and 14,400. We keep a long-term negative outlook for the futures, but we expect growth of the price in the medium term.
Nearest resistance levels: 14400, 14500, 14625
Nearest support levels: 13900