24.03.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 after a long consolidation around the level of 2050 has renewed decline inside the rising channel and came close to its bottom. Its breaking through will be the basis for the continuation of negative dynamics of price to 2000 and 1980 after which quotations may fall to 1920. On the other hand there is a possibility of rebound of quotations from current levels, and in this case we should open long positions after overcoming strong resistance at 1950. Our forecast at next few weeks remains positive.

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 could not break through the strong resistance level at 10150 and resumed decline, which is limited by the lower boundary of the rising channel exit outside of which will lead to further fall in prices to 9600 and 9300. We expect growth in the medium term, but long positions should be opened after overcoming the level of 10150.

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 after breaking through the inclined support line tries to gain a foothold above it. To continue the upward movement, quotations need to gain a foothold above 17250. On the other hand, in case of breaking of a local minimum beside 16500, we expect a further price reduction to 15700 and 15000. Our medium-term outlook remains positive, but probably of falling in the near future has increased.

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

Nearest support levels: 16500, 15700, 15000, 12500

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