22.07.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 fell slightly, but continues to consolidate around 2170. The level of 2200 could be the next target in the case of continuation of the upward movement. In case of a resumption of negative dynamics, a signal to sell will be fixation of price below the local minimum at 2150. Our medium-term outlook remains negative and we are waiting for the soon start of the correction.

Nearest resistance levels: 2170, 2200

Nearest support levels: 2150, 2135, 2120, 2080, 2040, 2020, 2000, 1980, 1950, 1910, 1860

The price of the futures on the German stock index DAX30 is consolidated around the level of 10150 and in case of continued growth the closest targets will be 10300 and 10500. On the other hand, there is a high probability of negative dynamics within the correction and in case of opening short positions with the targets of 9600 and 9300, the stop must be installed above 10300. Our medium-term outlook remains negative.

Nearest resistance levels: 10150, 10500, 10800, 11000, 11200

Nearest support levels: 9800, 9600, 9300, 9000, 8750, 7900, 7500

The price of the futures on the Japanese stock index Nikkei225 could not continue to grow, and within the correction fell to local ascending channel's lower border and level of 16550. In case of continued rising dynamics, quotations may return to the levels of 16800 and 17250. The signal to sell will be fixation below the level of 16550. Our short-term outlook remains negative.

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

Nearest support levels: 16300, 15850, 15400, 15000, 14000, 13600, 12500

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.