23.07.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 once again reached the mark of 1985, but failed to overcome the historical maximum and consolidate above it. With further growth, quotes can reach 2000. The growth potential is minimal and considering the fact that the price is near the upper limit of the corridor which it could not overcome earlier, we recommend to open short positions with the first target around 1950 and a stop above 1985. Medium-term outlook remains negative.
Nearest resistance levels: 1985, 2000
Nearest support levels: 1965, 1950, 1930, 1915, 1900, 1886, 1873
The price of the futures on the German stock index DAX30 after a strong growth has reached the upper boundary of the descending channel and a strong the level of 9800. In case of continued growth, a buy signal will become fixing the price above 9870, but even in this case, the growth potential is limited by the level of 10050. We expect the resumption of the downward price movement within the downward channel and recommend to open short positions with the target about 9400 and a stop above 9870. Medium-term outlook remains negative.
Nearest resistance levels: 9800, 9870, 10030, 10500
Nearest support levels: 9635, 9400, 9190, 8915
The price of the futures on the Japanese stock index Nikkei225 could not overcome the inclined resistance line and moves along it. Further growth is limited by the level of 15500, after the overcoming of which quotations may reach 15800 and 16000. Support levels lie at 15200 and 15000. Medium-term outlook remains positive, but we recommend to wait for confirmation of a buy signal.
Nearest resistance levels: 15500, 15800
Nearest support levels: 15000, 14700, 14600, 14400, 14000, 13900