19.11.2015 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 has broken through the inclined resistance line and level of 2060 and then continued to rise. In the near future, quotes will reach the level of 2100, and then can continue the upward trend to historic highs around 2135. To overcome them will be needed a substantial boost. In case of renewal of negative dynamics quotations will be reduced to 2060 and 2020. We expect the growth of price in the medium term.
Nearest resistance levels: 2100, 2120, 2135, 2150, 2200
Nearest support levels: 2060, 2020, 2000, 1950, 1910, 1886, 1850, 1780
The price of the futures on the German stock index DAX30 after correction has returned to the important level of 11000 and was able to break through it. The strong upward movement with a gap indicates the likelihood of continuation of the upward price movement to target levels at 11400 and 12000, but the gap can be closed in the near future. Our medium-term outlook remains negative and we recommend to open long positions with a stop below 10700.
Nearest resistance levels: 11200, 11400, 11800, 12000, 12400
Nearest support levels: 11000, 10800, 10700, 10400, 10000, 9600, 9400, 9000, 8500
The price of the futures on the Japanese stock index Nikkei225 continued growth inside the rising channel and approached the psychologically important mark of 20000. Breaking of these levels will be the basis for further growth of quotations to the target levels at 20400 and 20650. The fall in prices is limited by the lower boundary of the channel after breaking through which the price can drop to the strong support level at 19200. We maintain our medium-term negative outlook and recommend holding short positions.
Nearest resistance levels: 20000, 20400, 20650, 21000, 21500
Nearest support levels: 19200, 18500, 18000, 17500, 17000, 16500, 16000, 15200