22.08.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 continues to consolidate within the corridor 2175-2188. In case of breaking through the upper boundary of the channel, the growth will continue until 2200. On the other hand, a more likely option will be breaking through 2175 the level of, fixing below which will be a strong signal to sell with the targets 2100 and 2040. Our medium-term outlook remains negative and we are waiting for the signal to sell.

Nearest resistance levels: 2200, 2250, 2300

Nearest support levels: 2175, 2150, 2135, 2120, 2080, 2040, 2020, 2000, 1980, 1950, 1910

The price of the futures on the German stock index DAX30 reached the rising channel's lower border within the correction and then rebounded upward. The current upward momentum may continue to 10800-11000. A signal to sell will be fixing of quotes below the local minimum at 10500. In this case, the nearest targets will be 10150 and 9800. Our medium-term outlook is negative, but the current growth can continue in the near future.

Nearest resistance levels: 10800, 11000, 11200

Nearest support levels: 10500, 10150, 9800, 9600, 9300, 9000, 8750, 7900, 7500

The price of the futures on the Japanese stock index Nikkei225 rebounded from the local descending channel's lower border and has overcome the level of 16550. In the near future quotations may reach the upper limit of the channel, and then resume the decline. Our medium-term outlook remains negative and we expect a soon resumption of the negative dynamics.

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

Nearest support levels: 16800, 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.