23.07.2015 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 has corrected upwards after a rebound from the level of 1110. At the moment, quotations are trying to gain a foothold below the important level of 1120 and to continue moving inside the local descending channel. We expect a continuation of the downward price correction in the near future with the potential of fall to the levels 2070 and 2045. Despite this, our medium-term outlook remains negative.

Nearest resistance levels: 2120, 2135, 2150, 2200

Nearest support levels: 2100, 2070, 2040, 2025, 2000, 1975, 1950, 1915, 1900, 1886

The price of the futures on the German stock index DAX30 continued to correct and now is trying to gain a foothold below the important level of 11600. In case of success, we expect continued reduction of price with the objectives at 11400 and 10800, but more likely is the resumption of price growth in the near future, with the potential of achieving the levels 11900 and 12400. In the medium term we expect the continued growth.

Nearest resistance levels are: 11600, 11800, 11900, 12000, 12400

Nearest support levels: 11400, 11200, 11000, 10800, 10600, 10300, 10000

German Stock Index

The price of the futures on the Japanese stock index Nikkei225 corrected down and currently is consolidated near the level of 20650. Fixing the price below this level will be a signal to open the short-term short position with a stop above 21000 and with the objectives at 20000 and 19200. For the continuation of growth the price needs to overcome the psychologically important level of 21000. Our medium-term outlook remains positive despite the probability of lower prices.

Nearest resistance levels are: 21000, 21500

Nearest support levels: 20650, 20400, 20000, 19400, 19200, 19000, 18500, 18100

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