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21.11.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 continues to consolidate near historic highs, and the overcoming of 2195-2200 levels, will be the basis for further price increase until 2250. On the other hand, in the near future, quotations may go back to the important support level at 2150, a break through which would be a stimulus for the continuation of negative dynamics. We maintain our medium-term negative outlook and expect the beginning of the fall any time soon.

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 slightly changed and continues to move in the range 10500-10800. In case of continued growth and overcoming the resistance at 10800, we expect further growth of quotations to 11200 and 11600. More likely is the resumption of negative dynamics with the first targets at 10150, 9800, and 9300. Our medium-term outlook is pessimistic, and we expect a strong movement after the current consolidation.

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 is located near the psychologically important level of 18000. Its overcoming became the basis for further growth of quotations to 18500 and 19200. To change the current positive trend to the negative, quotations must fix beyond the boundaries of the current ascending channel. In this case, we expect a drop to 17250 and 16800. Our medium-term outlook remains negative.

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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