09.05.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 rebounded from the support level at 2040 and as a result broke through the inclined resistance line. In the near future, quotations may continue to grow and reach 2080 and 2100. In case of breaking through and fixing the price below the level of 2100, we recommend to open short positions with the targets at 1950 and 1915. Our forecast for next week remains negative.

Nearest resistance levels: 2080, 2100, 2120, 2135

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

The price of the futures on the German stock index DAX30 corrected upwards and may soon reach an important resistance level at 10150, and the upper limit of the downward channel. Overcoming these levels is the basis for continued growth of quotations with the closest targets at 10500. According to our estimates, the drop in prices may be resumed in the near future, and in this case, quotations may fall to 9600 and 9300. Our medium-term outlook remains negative, despite a possible drop in the nearest future.

Nearest resistance levels: 10150, 10800, 11000, 11200

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

The price of the futures on the Japanese stock index Nikkei225 continues to rise gradually after rebounded from the support level at 15850. In case of continuation of the current upward movement, quotes will reach the resistance levels at 16500 and 17250. On the other hand, after overcoming the level of 15850, quotes will drop to 15400 and 15000. Our medium-term outlook remains positive.

Nearest resistance levels: 16500, 17250, 17500, 18000, 18600, 19000, 19400, 19700

Nearest support levels: 15850, 15400, 15000, 12500

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