17.03.2016 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 after a long consolidation below the level of 2020, was able to overcome it and at the moment is trying to gain a foothold above it. In case of success, the growth may continue until 2050 and 2080. On the other hand breaking through the rising channel's lower border will be the basis for changing the upward trend to the negative with potential targets at 1950 and 1910. Our forecast for the coming week is negative.
Nearest resistance levels: 2050, 2065, 2080
Nearest levels of support: 2020, 2000, 1990, 1950, 1910, 1860, 1820, 1800, 1780, 1750, 1720
The price of the futures on the German stock index DAX30 was not able to continue its growth after consolidation around the level of 10000. Currently quotations are reduced and approached the level of 9800. Further fall is limited by the lower boundary of the rising channel. Our medium-term outlook remains positive, but the current negative trend may continue.
Nearest resistance levels: 10150, 10400, 10800, 11000, 11200
Nearest levels of support: 9800, 9100, 9000, 8500, 7900, 7500
The price of the futures on the Japanese stock index Nikkei225 after several unsuccessful attempts of breaking through the resistance level at 17250, started to decline and broke through the lower boundary of the rising channel. As a result, in the near future the price with a high probability will reach the level of 16300 after overcoming of which may continue to decline to 15700. In order to continue increase quotations need to break through the strong resistance at 17250. Our medium-term outlook is positive, but we expect saving of a current negative impulse in the short term.
Nearest resistance levels are: 17250, 17500, 18000, 18600, 19000, 19400, 19700
Nearest support levels are: 16300, 15700, 15000, 12500