20.05.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 continues to consolidate near the level of 2040 and in the near future growth is limited by an inclined resistance line, overcoming of which will cause further price growth to 2080. Fixing the price below 2040 will confirm the signal for the opening short positions with the targets 2000, 1950 and 1915. Our forecast for the coming weeks 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 continues to decline gradually within the local descending channel and now is consolidating near the level of 9800. Fixing the price below this mark will be a signal to sell with the first targets at 9300 and 9000. In case of breaking through the upper limit of the local downward channel, the growth will continue until 10150. Our medium-term outlook remains positive, despite a likely decline in the coming weeks.

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 continued to consolidate below 16800. Overcoming this level will become the reason to open long positions with the first targets at 17250 and 17500. On the other hand, fixing of quotations beyond the local rising channel that had left earlier, will become the basis for the continuation of negative dynamics of price to 15850 and 15400. Our medium-term outlook remains positive, and we are waiting for the signal to open new positions.

Nearest resistance levels: 16800, 17250, 17500, 18000, 18600, 19000, 19400, 19700

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

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