24.09.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 has broken through the support level of 1990 and continued to decline. In case of continuation of negative dynamics and fixing prices below 1275, we recommend to open short positions with the targets of 1950 and 1915 and a stop above 2000 Growth is limited by the levels of 2010 and 2020. Our medium-term outlook remains negative.
Nearest resistance levels: 1990, 2000, 2010, 2020, 2050
Nearest support levels: 1975, 1950, 1940, 1915, 1900, 1886, 1873
The price of the futures on the German stock index DAX30 has broken through the important support level of 9600 and given the strong downward momentum will likely continue to decline with the closest target of 9400. Considering this fact, we have a signal to open short positions with the targets 9400, 9190 and 8900. We recommend to open short positions with a stop above 9870 and maintain a medium-term negative outlook.
Nearest resistance levels: 9600, 9800, 9870, 10030, 10500
Nearest support levels: 9400, 9190, 9000, 8900, 8600, 8000
The price of the futures on the Japanese stock index Nikkei225 dropped to the bottom of the rising channel, but could not break through it and now is correcting upwards along the bottom of the channel. In case of continued decline, we recommend to close long positions after fixing the price below 16000. At the moment, we expect further increase in the price to the level of a local maximum and following growth to 16500. Our medium-term outlook remains positive.
Nearest resistance levels: 16500, 17000
Nearest support levels: 16000, 15800, 15650, 15500, 15350, 15200, 15000, 14800