26.09.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 failed to overcome the level of 2000, and started to fall sharply. As a result, the price broke through the support level of 1975 and now is consolidating below this mark. Fixing the price below 1975 is a signal to open short positions with the targets at 1950 and 1915. The growth is limited by the levels 1980 and 2000. We maintain a medium-term negative outlook.

Nearest resistance levels: 1975, 2000, 2010, 2020, 2050

Nearest support levels: 1950, 1940, 1915, 1900, 1886, 1873

The price of the futures on the German stock index DAX30 after the second attempt was able to overcome the support level near 9600, now the price is correcting upwards and is likely to reach the levels of 9600-9630. Fixing quotations below these levels will confirm the signal to open short positions. Growth is limited by the levels 9600 and 9800. We maintain a medium-term negative outlook with the objectives of 9400, 9190 and 8900.

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 rebounded from the bottom of the rising channel and continued to grow. In case of breaking the lower boundary of the channel and the price drop below 16000, we will recommend to close long positions. We recommend holding long positions, and our medium-term outlook remains positive with the objectives of 16500 and 17000.

Nearest resistance levels: 16500, 17000

Nearest support levels: 16100, 16000, 15800, 15650, 15500, 15350, 15200, 15000

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