18.05.2016 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 continued to consolidate between the support level at 2040 and the inclined resistance line. In the near future, quotations may continue to consolidate within this triangle, but the price fixing beyond its borders will be a signal for opening new positions. Thus, long positions should be opened in case of fixing the prices above 2080, and the short ones with the objectives 2000, 1950 and 1915, when fixing below 2040. Our forecast for next week 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 could not go beyond the local descending channel and returned to the important support level at 9800. In case of continued negative dynamics, quotations may fall to 9600 and 9300. On the other hand, breaking through the level of 10150 and fixation above it will be the basis for the continuation of the upward price dynamics with the targets at 10500 and 10800. Our medium-term outlook remains positive, despite a possible drop in the near future.
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 continues consolidating above the level of 16500 and reached the local rising channel's lower border. In case of continued rising dynamics and after overcoming the local maximum at 16800, we expect a further increase of price to 17250, and 17500. The breaking of and fixation of price below 16500, will be a signal to sell with targets at 15850 and 15400 Our medium-term outlook remains positive.
Nearest resistance levels: 17250, 17500, 18000, 18600, 19000, 19400, 19700
Nearest support levels: 16500, 15850, 15400, 15000, 12500