17.05.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 bounced upwards after failed to overcome the support level at 2040. At the moment, quotations approached the inclined line of resistance and in case of its overcoming will continue to rise until 2080 and 2100. A more likely is the resumption of a negative price dynamics with the first target at 2040, fixing below which the will be a signal to sell with the targets 2000, 1950 and 1915. Our forecast for the coming months remains negative.

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 demonstrated increased volatility and tried to resume growth, but could not go beyond the local descending channel. The signal for opening long positions with the closest target at 10500, will be overcoming the level of 10150. In the near future the price is likely to fall to 9800 and after breaking through this level the targets will be 9600 and 9300. Our medium-term outlook remains positive, but the decline may continue this week.

Nearest resistance levels: 10150, 10800, 11000, 11200

Nearest support levels: 9800, 9600, 9000, 8750, 7900, 7500

The price of the futures on the Japanese stock index Nikkei225 has continued growth along the local ascending channel's lower border, and the next target in case of continued current dynamics will become 17250. Fixing above this level will lead for the continuation of growth to 17500 and 18000. Our medium-term outlook remains positive, but fixation below the level of 16500 will cause further decline with the objectives at 15850 and 15400.

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

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

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