25.09.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 did not reach the level of the previous local minimum of 1975 and pushed away from the sloping support line. At the moment, prices reached the level of 2000, and are consolidating near this level. Further growth is limited by the levels of 2010 and 2020. In case of resumption of the downward movement, we recommend to open short positions after fixing the price below 1975. Our medium-term outlook remains negative.
Nearest resistance levels: 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 failed to gain a foothold below 9600, rebounded from an inclined support line and has started growing again. In case of continuation of the current trend, quotations may continue to grow up to 9800 and 9870. We maintain a medium-term negative outlook. Confirmation of a sell signal will be fixing the price below 9600.
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 continued growth inside the rising channel after rebounded from the bottom of the channel. Within the growth, the price has broken through the local maximum near 16380 and continued the growth. Decrease is limited by the level of 16100 and the lower boundary of the channel. We maintain our positive forecast with the medium-term objectives of 16500 and 16800.
Nearest resistance levels: 16500, 17000
Nearest support levels: 16100, 16000, 15800, 15650, 15500, 15350, 15200, 15000