08.09.2015 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 broke through the upper limit of the descending channel, and may soon reach the resistance at 2000, the overcoming of which will confirm the signal for opening long positions with the growth potential to 2070 and 2100. In case of renewal of the negative dynamics quotations will return to the levels of 1950 and 1900. We keep medium-term positive forecast.
Nearest resistance levels: 2000, 2025, 2045, 2070, 2085, 2100, 2120, 2135, 2150
Nearest support levels: 1950, 1915, 1900, 1886
The price of the futures on the German stock index DAX30 grows within the triangle and in case of price fixing over its upper boundary, we recommend to open long positions with the targets of 11000 and 11600, and a stop below 10000. On the other hand, a breaking through the lower boundary and fixation below 10000, will be the cause for further decline to 9600 and 9000. We keep medium-term positive outlook.
Nearest resistance levels: 10400, 10800, 11200, 11400, 11800, 12000, 12400
Nearest support levels: 10000, 9600, 9400
The price of the futures on the Japanese stock index Nikkei225 continues to consolidate above the level of about 17500. The growth is limited by the upper boundary of the triangle. Breaking through it and consolidation above the local maximum at 18500 will confirm a buy signal with the objectives of 19200 and 20000. On the other hand, fixing below 17500 will be the reason to open short positions. Our medium-term outlook is positive.
Nearest resistance levels are: 18500, 19200, 19400, 20000, 20400, 20650, 21000, 21500
Nearest support levels: 17500, 16500, 16000