22.10.2015 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 corrected downwards and currently is consolidating near the level of 2020. It is worth noting that earlier quotes broke through the lower boundary of the local rising channel and in the case of overcoming a local minimum around 1990, we expect a continuation of the decline of price to the levels of 1950 and 1910. We still expect growth of price in the medium term with the closest targets at 2070 and 2100.

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 is gradually increasing along the lower boundary of the rising channel, and according to our estimates will soon reach an important level of resistance at 10400. Fixing of price above this level will be a signal for the continuation of the upward movement of quotations with the objectives at 11200 and 12000. In case of correction quotations will return to the levels of 9900-10000. Our medium-term outlook remains negative.

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 unable to gain a foothold above the important resistance level at 18500 and currently is consolidating around this level. In case of continued growth, we recommend to open long positions with the targets of 19200 and 20000 and stop below 18000. In case of correction quotations marks return to 18000-18200. Our medium-term outlook remains positive.

Nearest resistance levels: 19200, 19400, 20000, 20400, 20650, 21000, 21500

Nearest support levels: 18500, 18000, 17500, 17000, 16500, 16000, 15200

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