23.02.2016 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 corrected downward after the recent growth during which approached the level of 1950. Fixing above this mark will be the basis for the price increase in the near future to the target levels at 1990 and 2050. In case of breaking through the inclined line of support and a local minimum at 1910, we recommend to open short position with a stop above 1950 and objectives at 1860, 1820 and 1780. Our forecast for the coming months is negative.
Nearest resistance levels: 1950, 1990, 2000, 2020, 2050, 2065, 2080
Nearest levels of support: 1910, 1860, 1820, 1800, 1780, 1750, 1720
The price of the futures on the German stock index DAX30 continued growth within the local rising channel and at the moment is consolidating around the level of 9500. A further increase within an uptrend is possible to the levels 9800 and 10150. On the other hand, there is a possibility of short-term correction to 9300. We do not rule out the resumption of the negative dynamics with the fall potential to 8500-8700, but the medium-term outlook for European stock markets remains positive.
Nearest resistance levels: 9800, 10150, 10400, 10800, 11000, 11200
Nearest levels of support: 9300, 9000, 8500, 7900, 7500
The price of the futures on the Japanese stock index Nikkei225 after rising to the resistance level at 16300, resumed the fall and in the near future according to our estimates will reach the lower limit of the corridor 15700-16300. The breaking of this level will open the possibility for further reduction with a target at 15000. Fixing of the price above 16300 will be a signal to buy with a stop below 15700 and target levels at 17250 and 18000. Our medium-term outlook is positive.
Nearest resistance levels are: 16300, 17250, 17500, 18000, 18600, 19000, 19400, 19700
Nearest support levels are: 15700, 15000, 12500