30.07.2014 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 yesterday corrected to the level of support at 1970, but could not break through it. Today, we expect a strong increase in volatility. Growth is limited by the upper boundary of the rising channel and historical maximum around 1990. We expect a price decline in the medium term with the objectives of 1900 and 1780. Signal to open short positions will become below 1950 the price fixing.
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 failed to gain a foothold below 9600 and bounced up. Further correction is limited by the sloping resistance line. We look forward to continuing the downward movement with the objectives of 9400 and 9190. Confirmation of a signal to sell will become the price fixing below 9600. Medium-term outlook 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 has reached the level of 15700 and the upper limit of the upward channel, but could not overcome it. In case of further decrease the price may fall to 15500, but we expect continued growth of quotations within the channel with the objectives of 15800 and 16000 and recommend holding long positions.
Nearest resistance levels: 15800, 16000
Nearest support levels: 15500, 15400, 15000, 14700, 14600, 14400, 14000, 13900