12.05.2015 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 was not able to continue the upward movement and to overcome the historical highs near the level of 2120. In case of penetration of this level, we expect further growth of quotations to 2150 and 2200. According to our forecast, the price decline will continue in the near future to the level of 2070, break through which will be the basis for the continuation of the downward price movements to 2040 and 1990. Our medium-term outlook remains positive, but we expect a further fall in the near future.
Nearest resistance levels: 2120, 2150, 2200
Nearest support levels: 2070, 2040, 2025, 2000, 1975, 1950, 1915, 1900, 1886
The price of the futures on the German stock index DAX30 after the upward correction has reached strong resistance level at 11700 and the upper boundary of the channel, but could not overcome them, and at the moment continues to fall within the channel. We recommend to keep short positions with closest targets at 11200 and 10600 and the stop above 11700. Our medium-term outlook is positive, despite the expected fall in prices in the near future.
Nearest resistance levels are: 11700, 12000, 12400, 12600, 13000
Nearest support levels: 11200, 11000, 10800, 10600, 10300
The price of the futures on the Japanese stock index Nikkei225 grew up inside the descending channel and reached its upper limit. In case of further decline, we with a high probability anticipate the price reduction to the level of 19000. On the other hand, fixing quotations above 19800 will become the basis for growth with the first target at 20200. We maintain a medium-term positive outlook, but we recommend to keep short positions in the near future.
Nearest resistance levels are: 19800, 20000, 20800, 21000, 21500
Nearest support levels: 19400, 19000, 18500, 18100, 17850, 17550, 17200