11.10.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 corrected upwards to an inclined line of resistance, and approached the level of 2170. At the moment the quotes decrease and soon will likely continue the current trend. The signal to sell with targets at 2120, 2040 and 2000 will be fixation lower than 2150. After a long consolidation, we expect a strong price movement.

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 broke through the upper limit of the downward channel, and in the near future may continue increase to 10800. Fixing of price above this mark will be the basis for further price increase up to 11200 and 11600. On the other hand, there is an increased probability of resumption of negative dynamics with the first target at 10300 and fixation below this level will be the signal to sell with the potential of reduction to 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 fixed beyond the triangle, and continued growth after overcoming the important level of 16800. At the moment quotes are near 17000 and the following targets will be 17250, 17600 and 18000. In case of correction. the price can return to the support at 16800. Our medium-term outlook remains negative, but we can see continued growth in the near future.

Nearest resistance levels: 17000, 17250, 17600, 18000

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

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.