29.05.2014 - Technical view on stock indexes
Price of the futures on a wide U.S. stock index S&P500 continues to move along the upper limit of the upward channel. Potential for further growth is very limited. We expect price correction inside the rising channel in the medium term with the first target at 1900, but maintain a long-term negative outlook.
Nearest resistance levels: 1920, 1950
Nearest support levels: 1900, 1886, 1873, 1860, 1840, 1813
Price of the futures for German stock index DAX30 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 is trying to gain a foothold above the strong level of 14600. In the case of continued growth, we recommend to open long positions with the aim of about 15000. 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