28.05.2014 - Technical view on stock indexes

Price of the futures on a wide U.S. stock index S&P500 has overcome the strong level 1900 and reached the upper limit of the upward channel. We expect continuation of the price movement inside the rising channel in the medium term, but keep a long-term negative outlook. After long-term growth, there is a high probability of a downward correction with the first goal at 1900.

Nearest resistance levels: 1920, 1950

Nearest support levels: 1900, 1886, 1873, 1860, 1840, 1813

April 21 USD Data

Price of the futures for German stock index DAX30 continued the upward movement and now is moving along the upper limit of the upward channel. Further growth is limited by the psychological level of 10,000. Considering long-term growth and resistance in the form of the upper boundary of the channel, we expect a downward correction and maintain a medium-term negative outlook for the futures.

Nearest resistance levels: 10000

Nearest support levels: 9800, 9700, 9635, 9400, 9190, 8915

Price of the futures for a wide Japanese stock index Nikkei225 continues to consolidate above the strong level of 14600. If the price will fix above this level, we recommend opening long positions with the target of about 15,000. Within correction the price may fall to 14300-14400. We maintain a long-term negative outlook for the futures.

Nearest resistance levels: 15000

Nearest support levels: 14600, 14500, 14000, 13900

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