05.10.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 corrected down to the level of 2150 and broke through the inclined support line. If the price falls below this level, we expect a decrease in quotations to 2120, 2040 and 2000. The growth in the near future is limited by the levels of resistance at 2170 and 2195. Our medium-term outlook remains negative and we are waiting for confirmation of the sell signal.

Nearest resistance levels: 2195, 2200, 2250

Nearest support levels: 2150, 2120, 2040, 2000, 1950, 1940, 1915, 1900, 1886, 1873

The price of the futures on the German stock index DAX30 again failed to fix below the support level at 10300 and returned to the important level of 10500. Further growth is possible up to 10800, and overcoming this resistance will cause further growth to 11200 and 11600. According to our estimates, the fall will resume and in case of fixing below 10300, we expect a reduction to 9800 and 9300. Our medium-term outlook remains negative.

Nearest resistance levels: 10800, 11200, 11600

Nearest support levels: 10500, 10300, 9800, 9600, 9300, 9190, 9000, 8900, 8600, 8000

The price of the futures on the Japanese stock index Nikkei225 reached the resistance level at 16800 and the upper boundary of the triangle. Fixing the price above these levels will be a signal to buy with targets at 17250 and 17600. In the case of resumption of negative dynamics quotes will probably reach the levels 16500 and 16300, fixing below which will be the reason for opening short positions. Our medium-term outlook remains negative.

Nearest resistance levels: 16800, 17100, 17250, 17600, 18000

Nearest support levels: 16500, 16300, 16000, 15850, 15650, 15500, 15350, 15200, 15000

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