29.07.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 continues to consolidate below the lower boundary of the rising channel. Further growth is limited by the historical maximum of about 1990 and psychological mark of 2000. We expect a trend reversal and the beginning of a substantial correction by 10-15%. A signal to sell will become the price fixing below 1950. Medium-term outlook remains negative.
Nearest resistance levels: 1990, 2000
Nearest support levels: 1965, 1950, 1930, 1915, 1900, 1886, 1873
The price of the futures on the German stock index DAX30 has broken through the strong support level of 9635 and reached the level of 9600, above which now consolidates. Growth of quotes is limited by the upper boundary of the channel and we look forward to continuing the downward movement in the near future and recommend holding short positions with the first target at 9400. Medium term also remains negative.
Nearest resistance levels: 9800, 9870, 10030, 10500
Nearest support levels: 9400, 9190, 8915
The price of the futures on the Japanese stock index Nikkei225 after breaking through and fixing the price above 15500, continued to grow and in the near future will probably reach the level of 15800, and then may continue to grow to 16000. In case of correction, the price may fall to 15500 and 15400. We expect a continuation of the current positive dynamics and maintain midterm positive outlook.
Nearest resistance levels: 15800, 16000
Nearest support levels: 15500, 15400, 15000, 14700, 14600, 14400, 14000, 13900