24.11.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 continues to grow gradually along the top of the rising channel. According to our estimates the price will continue to rise to the level of 2100 inside the rising channel. Correction is limited by the lower boundary of the ascending channel and the level of support at 2040. If the price fixates below this mark, we recommend to open short positions. We expect growth of the price in the near future.
Nearest resistance levels: 2100
Nearest support levels: 2060, 2040, 2020, 2000, 1990, 1950, 1915, 1900, 1886, 1860, 1820
The price of the futures on the German stock index DAX30 after fixing the price above the level of 9400 continued to grow and has broken through the strong level of 9600. At the moment, the price approached the level of 9800 and is likely to consolidate near the levels of 9800-9870 in the near future. Growth is limited by a sloping resistance level and mark 9870. Fixing the price below 9200 will be a signal to sell. We expect continued growth in the near future with a target near 10000.
Nearest resistance levels: 9800, 9870, 10030
Nearest support levels for 9600, 9400, 9190, 9000, 8800, 8600, 8200, 8000
The price of the futures on the Japanese stock index Nikkei225 continues to consolidate within the triangle. Fixing the price outside it will be the reason for the strong price movement. Fixing the price below 17000 will be a signal for closing long positions and opening of short ones. We recommend holding long positions and maintain a positive medium-term with the closest target near 18000.
Nearest resistance levels: 17500, 18000
Nearest support levels: 17000, 16700, 16400, 16000, 15800, 15450, 15200, 15000, 14800