25.07.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 is trying to gain a foothold above the level of 1985, which it has overcome earlier this week. We assess the potential for further growth as minimal and assume the possibility of further growth up to 2000. To consolidate above this mark, the market will need a significant boost. Medium-term outlook remains negative and we recommend to open short positions after the price fixing below 1950.
Nearest resistance levels: 2000
Nearest support levels: 1985, 1965, 1950, 1930, 1915, 1900, 1886, 1873
The price of the futures on the German stock index DAX30 has broken through the inclined resistance line, but could not overcome the level of 9800 and continues to consolidate below this mark. Growth is limited by the resistance levels on 9870 and 10000. We expect the resumption of the downward movement in the near future and recommend to open short positions with a stop above 9870 and objectives of 9635 and 9400. Medium term outlook we keep 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 continued to grow along an inclined resistance line and reached the psychologically important level of 15500. If the price fixates above this mark, we recommend to open long positions with the targets of 15800 and 16000. In case of correction quotations may fall to 15200 and 15000. Medium term outlook remains positive.
Nearest resistance levels: 15500, 15800
Nearest support levels: 15000, 14700, 14600, 14400, 14000, 13900