23.03.2016 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 continues to move within a narrow range around the level of 2050. In case of continued growth, quotations may reach next target marks 2080 and 2100. In case of correction, quotations may fall to the lower boundary of the rising channel and the level of 2020. Fixing below given level and breaking 2000, will be a signal about the change of the positive trend to the negative. We expect a decline in the near future.
Nearest resistance levels: 2050, 2065, 2080
Nearest levels of support: 2020, 2000, 1990, 1950, 1910, 1860, 1820, 1800, 1780, 1750, 1720
The price of the futures on the German stock index DAX30 showed an increase and reached a strong resistance at 10150. Fixing of price above this mark will be the reason for the continued growth to 10800 and 11200. The fall is limited by the support beside 9900 and the lower border of the channel. We expect a further increase in prices in the medium term, but do not exclude the fall in the near future.
Nearest resistance levels: 10150, 10400, 10800, 11000, 11200
Nearest levels of support: 9800, 9100, 9000, 8500, 7900, 7500
The price of the futures on the Japanese stock index Nikkei225 grows along the inclined line of resistance within the range 16500-17250. The breaking of the upper boundary of the corridor will be a strong signal for the continuation of price growth to the target levels at 18000 and 18600. Short position should be opened after breaking through the support at 16500, but this scenario is unlikely. Our medium-term outlook remains positive.
Nearest resistance levels: 17250, 17500, 18000, 18600, 19000, 19400, 19700
Nearest support levels are: 16500, 15700, 15000, 12500