23.05.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 corrected upwards, and at the moment is consolidating between the inclined line of resistance and support level at 2040 fixing below which will confirm the signal to sell with the targets 2000, 1950 and 1915 and a stop above 2080. The growth in the near future limited by the inclined resistance line. Our forecast for next week is negative.

Nearest resistance levels: 2080, 2100, 2120, 2135

Nearest support levels: 2040, 2020, 2000, 1980, 1950, 1910, 1860, 1820, 1800

The price of the futures on the German stock index DAX30 continues to decline along the inclined line of resistance and in the case of overcoming the strong support line at 9800, we recommend to open short positions with potential targets at 9600 and 9300. On the other hand, continued growth and fixation above the level of 10150, will be the basis for the continuation of the upward price movement to 10500 and 10800. We expect a further fall in prices in the coming weeks, but the medium-term view remains positive.

Nearest resistance levels: 10150, 10800, 11000, 11200

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

The price of the futures on the Japanese stock index Nikkei225 continues to consolidate within the range 16300-16800 and fixing above its upper limit will be the signal for the continuation of the upward movement up to 17250, and 17500. In case of a fall and breaking through 16300, there is a high probability of further reduction to 15850 and 15400. Our medium-term outlook remains positive, but in the near future there is a possibility of correction.

Nearest resistance levels: 16800, 17250, 17500, 18000, 18600, 19000, 19400, 19700

Nearest support levels: 16500, 15850, 15400, 15000, 12500

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