21.10.2015 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 is consolidating above the level of 2020 and is currently is moving along the lower boundary of the rising channel. Fixing the price above 2020 is a buy signal with the objectives at 2070 and 2100 and a stop below 1990. In case of overcoming the support at 2000 and breaking through the 1990 level, quotes will continue to fall to 1950 and 1910. Our medium-term outlook remains positive and we recommend to open long positions.
Nearest resistance levels: 2045, 2070, 2085, 2100, 2120, 2135
Nearest support levels: 2020, 2000, 1950, 1910, 1886, 1850, 1780
The price of the futures on the German stock index DAX30 after some consolidation near the lower boundary of the descending channel, continued growth within it and broke through the local resistance at 10200, leading to a further increase to 10400. Fixing above 10400 will be signal for continued growth to the levels of 11200 and 12000. According to our forecasts the price growth will continue in the near future and in the medium term.
Nearest resistance levels: 10400, 10800, 11200, 11400, 11800, 12000, 12400
Nearest support levels: 10000, 9600, 9400, 9000, 8500
The price of the futures on the Japanese stock index Nikkei225 was able to break through an important resistance level at 18500, fixing above which will be the basis for opening long positions with the targets at 19200 and 20000. In case of correction quotations may return to the levels of 18000-18200, but according to our estimates, the more likely scenario is continued growth in the near future . We also maintain our medium-term positive outlook.
Nearest resistance levels: 19200, 19400, 20000, 20400, 20650, 21000, 21500
Nearest support levels: 18500, 18000, 17500, 17000, 16500, 16000, 15200