26.08.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 stopped growing and consolidating below the psychologically important level of 2000. To resume the growth, the price needs to break through and gain a foothold above this mark. Considering continued growth and a strong resistance level, we expect the beginning of correction in price in the near future and recommend to open short positions with a stop above 2000. We maintain medium-term negative outlook.
Nearest resistance levels: 2000
Nearest support levels: 1990, 1975, 1950, 1940, 1915, 1900, 1886, 1873, 1850, 1780
The price of the futures on the German stock index DAX30 after breaking through the level of 9400 has continued to grow inside the rising channel. In case of continued current dynamics, the price will reach the levels 9600-9630. The signal of a reversal of the current upward trend will be fixing the price below 9300. We maintain medium-term negative outlook, but assume continued growth in the near future.
Nearest resistance levels: 9600, 9800, 9870, 10030, 10500
Nearest support levels: 9400, 9190, 9000, 8915, 8600, 8000
The price of the futures on the Japanese stock index Nikkei225 could not overcome the nearest local maximum of about 15600 and started to correct downwards to 15500. If the price fixates below this level will be completed the formation of "double top", which indicates a trend reversal. Despite this, we save positive medium-term forecast.
Nearest resistance levels: 15800, 16000
Nearest support levels: 15500, 15350, 15200, 15000, 14800, 14700, 14600, 14400