24.05.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 continues to decline after it failed to overcome the upper limit of the ascending channel. Falling of price is limited by a strong level 1950. Rising tendency is slowing and the potential for further growth is limited by the psychological levels of 2000. We keep negative medium-term outlook, but do not exclude the price growth to 2,000 in the near future.
Nearest resistance levels: 2000
Nearest support levels: 1950, 1930, 1915, 1900, 1886, 1873, 1860, 1840, 1813
The price of the futures on the German stock index DAX30 was unable to gain a foothold above the psychological mark of 10000 and started to decline, within which broke the lower boundary of the rising channel. Confirmation of a sell signal will be price fixing below the local minimum at 9850. We expect a decline in futures contract's price and maintain a medium-term negative outlook.
Nearest resistance levels: 10000
Nearest support levels: 9850, 9800, 9700, 9635, 9400, 9190, 8915
The price of the futures on the Japanese stock index Nikkei225 rebounded from the bottom of the local rising channel. Potential for further growth is limited by couple resistances such as a local maximum of about 15500 and an upper limit of the upward channel. In the near future is more likely the correction of price, but in the medium term the price growth will probably continue.
Nearest resistance levels: 15500, 15800
Nearest support levels: 15200, 14900, 14700, 14600, 14400, 14000, 13900