20.08.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 broke through the level of 1975 and continues the upward movement along the top of the local rising channel. Further growth is limited by a historic maximum of about 1990 and psychologically important level of 2000. The signal to open short positions will be fixing the price below 1950. We expect a reversal of the upward trend of the local in the near future and maintain a medium-term negative outlook.

Nearest resistance levels: 1990, 2000

Nearest support levels: 1975, 1950, 1940, 1915, 1900, 1886, 1873, 1850, 1780

The price of the futures on the German stock index DAX30 continues to move within the local rising channel and now is consolidating around the level of 9300. We expect increase in prices to the closest resistance level of 9400, after reaching of which the decline is likely to resume. We maintain a medium-term negative outlook with a view near 8600.

Nearest resistance levels: 9190, 9400, 9600, 9800, 9870, 10030, 10500

Nearest support levels: 9000, 8915, 8600, 8000

The price of the futures on the Japanese stock index Nikkei225 started to correct downwards after reaching the target level of 15500. The price continues to move within the local rising channel. Correction is possible to the level of 15200. To continue the upward movement the price needs to fix above 15500. We maintain a positive outlook for the medium-term with the closest targets at 15800 and 16000.

Nearest resistance levels: 15500, 15800, 16000

Nearest support levels: 15350, 15200, 15000, 14800, 14700, 14600, 14400, 14000, 13900

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