23.09.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 reached the strong level of support at 1990, but could not break through it and now shows a minor upward correction. With a further increase the price may rise to 2000 and 2010. We expect a decline in prices in the medium term. Confirmation of the signal to open short positions will be fixing the price below 1975. In such case the quotes will decline to 1950 and 1915.
Nearest resistance levels: 2000, 2010, 2020, 2050
Nearest support levels: 1990, 1975, 1950, 1940, 1915, 1900, 1886, 1873
The price of the futures on the German stock index DAX30 continues to fall after it was unable to gain a foothold above the level of 9870. In the near future the price is likely to reach the level of 9600, the penetration and consolidation below which will be a signal to open short positions with the targets of 9400, 9190 and 8900. Stop should be set above 9900. We maintain a medium-term negative forecast.
Nearest resistance levels: 9800, 9870, 10030, 10500
Nearest support levels: 9600, 9400, 9190, 9000, 8900, 8600, 8000
The price of the futures on the Japanese stock index Nikkei225 gradually decreases inside the rising channel and in the near future will reach its lower limit. Support is also located on the psychologically important level of 16000. In case of a further fall, the signal to open short positions will be fixing the price below 15800. We expect continuation of the price growth inside the rising channel and maintain a medium-term positive outlook.
Nearest resistance levels: 16500, 17000
Nearest support levels: 16000, 15800, 15650, 15500, 15350, 15200, 15000, 14800