27.10.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 continued gradual growth within the local rising channel and was able to overcome an important level of 1950. Considering overcoming of this mark, we recommend to fix short positions. The further growth of price is limited by the levels 1990 and 2010. Despite the current upward movement we maintain a medium-term negative outlook and recommend to wait for a signal to open short positions.
Nearest resistance levels: 1980, 2000
Nearest support levels: 1950, 1915, 1900, 1886, 1860, 1820, 1780
The price of the futures on the German stock index DAX30 has not reached the level of 9200 and keeps consolidating near the mark of 9000. Fixing the price below 8900 will be the basis to expect further price reduction to target levels of 8400 and 8000. We recommend holding short positions with a stop above 9200 and maintain a medium-term negative outlook.
Nearest resistance levels: 9000, 9190, 9400, 9600, 9800, 9870, 10030
Nearest support levels: 8900, 8600, 8200, 8000
The price of the futures on the Japanese stock index Nikkei225 keeps consolidating below the strong level of 15450. It is worth noting that the price reduction is limited by the inclined line of support. Breaking of this support and fixing of prices below 15000 will be a signal to open short positions. The growth with the objectives about 16000 and 16400 is possible in case of consolidation of quotations above 15450. We maintain a medium-term negative outlook.
Nearest resistance levels: 15450, 15650, 15800, 16000, 16100
Nearest support levels: 15200, 15000, 14800, 14500, 14000, 13400