16.05.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 continued to decline and reached a strong support at 2040. In case of the price rebound from this level, quotations may return to the level of 2080, and inclined line of resistance. On the other hand, fixing the price below 2040 will confirm the signal for opening short positions with the targets 2000, 1950 and 1915. We forecast a drop in the coming weeks.

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 could not overcome the resistance level at 9800. If the price fixates below this mark, the fall will continue until 9600 and 9300. On the other hand, the price increase is limited by the level of 10150 and an upper limit of the downward channel. Our medium-term outlook remains positive, but probability of decrease in the near future has increased significantly.

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 continued consolidation around the level of 16500 and is located near the local ascending channel's lower border. In case of the price rebound from the channel, the growth will continue until the 17250 and 17500. Fixing beyond the rising channel's lower border will be the basis for further price reduction to 15850 and 15400. Our medium-term outlook remains negative.

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

Nearest support levels: 16500, 15850, 15400, 15000, 12500

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