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18.11.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 continued gradual growth along the inclined support line. It is worth noting that the quotes are near historic highs and overcoming the levels 2195-2200 will be the basis for the continuation of the upward price movement up to 2250. On the other hand, at the moment there is a high probability of price correction with the first targets at 2120 and 2080. In case of opening short positions, the stop should be set above 2200. Our medium-term outlook remains negative and we look forward to the beginning of the decline in the near future.

Nearest resistance levels: 2195, 2200, 2250

Nearest support levels: 2150, 2120, 2100, 2040, 2000, 1950, 1940, 1915, 1900, 1886, 1873

The price of the futures on the German stock index DAX30 is consolidating below the level of 10800 and overcoming of it will be the basis for continued growth of quotations to 11200 and 11600. According to our estimates, the decline is likely to resume and in case of opening short positions with the targets at 10300, 9800 and 9300, the stop should be set above 10800. Our medium-term outlook remains negative.

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 has reached the target level of 18000, but was not fixed above it and now is consolidating within the local rising channel. In case of continued growth, the targets will be 18500 and 19200. On the other hand, a signal to sell with the objectives of 16800 and 16300 will be fixing below the important level of 17600. Our medium-term outlook remains negative, but the current positive dynamics may continue in the near future.

Nearest resistance levels: 18000, 18500, 19200, 20000

Nearest support levels: 17600, 17250, 17000, 16800, 16500, 16300, 16000, 15850, 15650

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The CIF license of PFX Financial Professionals Ltd has been suspended by the Cyprus Securities and Exchange Commission until the 24th of December 2016. Please click here
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