18.10.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 could not continue the decline and overcome the resistance level at 2120. At this point quotations show growth and may continue an increase to 2150 and an inclined resistance line. According to our estimates, potential of price growth in the near future is limited and we expect the resumption of negative dynamics in the near future and maintain the medium-term negative forecast with targets at 2040 and 2000.

Nearest resistance levels: 2150, 2195, 2200, 2250

Nearest support levels: 2120, 2040, 2000, 1950, 1940, 1915, 1900, 1886, 1873

The price of the futures on the German stock index DAX30 is consolidated near the level of 10500 and in case of continued growth, quotations may reach the mark 10800, overcoming of which will be unlikely. With the resumption of negative dynamics the first target level will be 10300, the overcoming of which will be the signal to sell with targets at 9800 and 9300. We maintain our medium-term negative forecast and expect decline in the near future.

Nearest resistance levels: 10800, 11200, 11600

Nearest support levels: 10500, 10300, 9800, 9600, 9300, 9190, 9000, 8900, 8600, 8000

The price of the futures on the Japanese stock index Nikkei225 rebounded from the support level at 16800, and approached the psychologically important level of 17000. In case of a further increase the following targets will be 17250 and 17600. On the other hand, now there is the possibility of opening short positions with the tight stop above 17250 and potential targets at 16300 and 15850.

Nearest resistance levels: 17000, 17250, 17600, 18000

Nearest support levels: 16800, 16500, 16300, 16000, 15850, 15650, 15500, 15350, 15200

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