29.08.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 after breaking through the lower boundary of the ascending channel continues to move along it. At the moment, the quotes are trying to gain a foothold above the important level 2000. Despite this, we expect a decline in prices in the near future and recommend to open short positions with a stop above 2000. Our medium-term outlook remains negative, with targets at 1900, 1850 and 1780.
Nearest resistance levels: 2050
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 reaching the lower boundary of the ascending channel and the local level of 9400, rebounded upwards and continued gradual growth within the channel. In case of saving current dynamics, the price can reach the levels of 9600-9630. To overcome these levels will be needed a strong impetus. Short position should be opened after fixing the price below 9400. We maintain a medium-term negative outlook.
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 after overcoming the strong support level 15500, is trying to gain a foothold below this mark. In case of success we recommend to open short positions with the closest targets at 15200 and 14800. Resumption of growth is possible in case of price growth above 15500 medium-term outlook remains negative.
Nearest resistance levels: 15500, 15800, 16000
Nearest support levels: 15350, 15200, 15000, 14800, 14700, 14600, 14400