08.01.2016 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 reached the level of 1950 and is consolidated around it. Currently quotes continue to move within the local downward channel and in case of overcoming its upper limit will return to the levels of 1990-2000. A further decline of price is possible up to the level of 1910. We expect a continuation of the negative dynamics, but today probably will see an upward correction.
Nearest resistance levels: 1990, 2000, 2020, 2050, 2065, 2080, 2100, 2120, 2135
Nearest support levels: 1950, 1910, 1886, 1850, 1780
The price of the futures on the German stock index DAX30 after reaching the lower limit of downward channel and approaching the level of 9800, started to correct upward and in the near future the upward movement may continue to 10400 and the upper boundary of the channel. Our medium-term outlook remains positive and we are looking forward to continuing upward correction in the near future.
Nearest resistance levels: 10000, 10400, 10800, 11000, 11200, 11400, 11800, 12000, 12400
Nearest support levels: 9600, 9400, 9000, 8500
The price of the futures on the Japanese stock index Nikkei225 has reached the lower boundary of the downward channel and keeps consolidating around it. It is worth noting that the price reached the support at 17500 and according to our estimates in the near future will be corrected upwards after a strong decline previously. In this case, the closest targets will be 18000 and 18600.
Nearest resistance levels: 18000, 18600, 19000, 19400, 19700, 20000, 20400, 20650, 21000
Nearest support levels: 17500, 17000, 16500, 16000, 15200