07.06.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 continued its growth and was able to overcome the local maximum at 2006. This fact is the basis for continued growth with potential targets at 2120 and 2135. According to our estimates, overcoming historic highs near the level of 2135 in the near future is unlikely, and we expect the start of a substantial correction in the near future with the first targets at 2040 and 2000. Our forecast for the near future is a negative.

Nearest resistance levels: 2120, 2135

Nearest support levels: 2100, 2080, 2040, 2020, 2000, 1980, 1950, 1910, 1860, 1820, 1800

The price of the futures on the German stock index DAX30 has not been able to gain a foothold below the level of 10150 and today shows a sharp increase during which the closest level will be 10500. in case of continuation of negative dynamics, target levels will remain 9800 and 9600. Our medium-term outlook is still positive, but the current upward momentum is likely to be replaced by a fall in the near future.

Nearest resistance levels: 10500, 10800, 11000, 11200

Nearest support levels: 10150, 9800, 9600, 9000, 8750, 7900, 7500

The price of the futures on the Japanese stock index Nikkei225 shows growth after rebounded from a strong support level at 16300. In case of continued growth and breaking through the resistance at 16800, the closest target levels will be 17250 and 17500. On the other hand, after reaching a level of 16800 is possible the roll back of price to 16500. Our medium-term outlook remains positive but we do not exclude the fall in the near future.

Nearest resistance levels: 16800, 17250, 17500, 18000, 18600, 19000, 19400, 19700

Nearest support levels: 16300, 15850, 15400, 15000, 12500

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