10.10.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 continued to consolidate within the range 2150-2170. In case of growth and overcoming resistance level at 2170, the price can reach 2195-2200. On the other hand, fixing below 2150 will be a signal to sell with targets at 2120, 2040 and 2000. Our medium-term outlook remains negative and we expect a strong price movement after the current consolidation.

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 is reduced within the descending channel after it failed to overcome its upper boundary. Currently quotes are around the level of 10500 in case of resumption of growth the first objective will be 10800. On the other hand, the more likely will be the resumption of the negative dynamics of price with targets at 10300, 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 has not been able to overcome the resistance level at 17000 and started to correct downwards. In case of resumption of growth, the closest targets will be 17250, 17600 and 18000. The breaking of the inclined support line will lead to a further drop in price to 16300. Our medium-term outlook remains negative and a signal to sell will be fixation of quotations below the level of 16300.

Nearest resistance levels: 17000, 17250, 17600, 18000

Nearest support levels: 16800, 16500, 16300, 16000, 15850, 15650, 15500, 15350, 15200

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