22.08.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 reached the historic high and is steadily growing along the upper border of the rising channel. Further increase is limited by the psychologically important level of 2000. In case of correction the first target level will be 1975. In case of a change of trend, a signal to open short positions will be fixing the price below 1950. We look forward to the beginning of the correction in the near future and maintain a medium-term negative outlook.

Nearest resistance levels: 2000

Nearest support levels: 1990, 1975, 1950, 1940, 1915, 1900, 1886, 1873, 1850, 1780

The price of the futures on the German stock index DAX30 reached the target level of 9400, but has not overcome it. Continued growth within the local rising channel is possible if the price fixates above this mark. We expect the price correction in the near future, with targets at 9190 and 8915. Our medium-term outlook remains negative.

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 did not continue to rise after a durable movement along the upper limit of the channel, started to correct downwards. Descending movement is limited by a strong level of 15500 and the lower boundary of the channel. If the price will fix above 15500, the growth will continue to the levels of 15800 and 16000. We maintain a medium-term positive outlook.

Nearest resistance levels: 15800, 16000

Nearest support levels: 15500, 15350, 15200, 15000, 14800, 14700, 14600, 14400

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