24.05.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 after the recent correction renewed fall in the near future will reach the level of 2040, fixing below which will become the basis for opening short positions with the targets 2000, 1950 and 1915. The growth of prices in the near future is limited by an inclined resistance line. On the other hand breaking through the inclined line of resistance will be the basis for growth with the potential achieve in 2080 and 2100. We forecast a drop in the coming weeks.

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 continued to fall along the inclined line of resistance, and now is around the level of 9800. Fixing below this mark will be a signal to sell with the first targets at 9300 and 9000. The growth is limited by the upper boundary of the channel breaking through which will lead to a further increase to 10150. Our medium-term outlook remains positive, despite a likely fall in the near future.

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 still moving within the corridor 16300-16850. Overcoming its upper limit will be the basis for further growth with the objectives at 17250 and 17500. In case of continuation of the current negative dynamics and overcoming the level of 16300, the decline will continue to 15850 and 15400. Our medium-term outlook is positive, but the probability of falling in the near future has increased significantly.

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

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

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