02.11.2015 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 after correction within the local rising channel reached its bottom border and the support level at 2070. At this point quotations rebounded upwards and will soon return to the mark 2100, a breaking of which will lead to the continuation of the upward trend to the levels 2120 and 2135. On the other hand, a breaking of the channel boundary and fixing the price below the level of 2070 will be a signal to sell with the objectives at 2020 and 2000. Our medium-term outlook remains positive.
Nearest resistance levels: 2085, 2100, 2120, 2135
Nearest support levels: 2070, 2020, 2000, 1950, 1910, 1886, 1850, 1780
The price of the futures on the German stock index DAX30 is consolidating near the level of 10800 and may soon reach the lower boundary of rising channel. In case of a fall, the first level of support will be 10400. A more likely scenario in the near future is the continuation of upward trend of price to the target levels at 11200 and 12000. Our medium-term outlook remains positive.
Nearest resistance levels: 11200, 11400, 11800, 12000, 12400
Nearest support levels: 10800, 10400, 10000, 9600, 9400, 9000, 8500
The price of the futures on the Japanese stock index Nikkei225 corrected down to an inclined support line and a further decline is possible to 18500. According to our estimates in the near future there is a high probability of further price consolidation between the inclined support and resistance levels at 19200. Overcoming this level will be a signal for the further growth of price to 20000. We maintain a positive medium-term view.
Nearest resistance levels: 19200, 19400, 20000, 20400, 20650, 21000, 21500
Nearest support levels: 18500, 18000, 17500, 17000, 16500, 16000, 15200