31.07.2014 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 continued to decline inside the rising channel and approached its bottom. In case of further decline, confirmation of a sell signal will be fixing the price below 1950. The growth is limited by the levels of 1990 and 2000. We maintain a medium-term negative outlook with the potential of reduction over 10-15%.

Nearest resistance levels: 1990, 2000

Nearest support levels: 1950, 1930, 1915, 1900, 1886, 1873

The price of the futures on the German stock index DAX30 has broken through the bottom of the triangle and the strong level of 9600, which gives the signal to open short positions with the targets of 9400 and 9190. The correction is possible to the level of 9600, we recommend holding short positions and maintain a medium-term negative outlook.

Nearest resistance levels: 9600, 9800, 9870, 10030, 10500

Nearest support levels: 9400, 9190, 8915

The price of the futures on the Japanese stock index Nikkei225 has failed to overcome the upper limit of the upward channel and started to correct. Downward movement may continue until the bottom of the channel and the strong support at 15500. Despite the expectation of further correction in the near future, we maintain a positive outlook for the medium-term with the objectives of 15800 and 16000.

Nearest resistance levels: 15800, 16000

Nearest support levels: 15500, 15400, 15000, 14700, 14600, 14400, 14000, 13900

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