24.06.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 after could not overcome the important resistance level at 2120, started a sharp drop and as a result approached the psychologically important mark of 2000 and reached an inclined support line. Currently quotes are consolidated around the level of 2040 and may resume fall with first targets at 2000 and 1980. Our forecast for the near future remains negative.

Nearest resistance levels: 2040, 2080, 2100, 2120, 2135

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

The price of the futures on the German stock index DAX30 has shown a sharp drop with a gap down. As a result, quotes reached a support level at 9300, but could not overcome it, and rebounded upwards. In case of continuation of the rising correction is likely growth till 9800. We forecast a drop in the near future, and maintaining high level of volatility.

Nearest resistance levels: 9600, 9800, 10150, 10500, 10800, 11000, 11200

Nearest support levels: 9300, 9000, 8750, 7900, 7500

The price of the futures on the Japanese stock index Nikkei225 has fallen sharply and as a result quotations updated lows of this year. Thus, the price has broken through the psychologically important level of 15000 and at the moment is consolidating in the corridor 15000-15400. In case of continued negative dynamics quotations may fall to 14000. We anticipate maintaining a high level of volatility, and expect a correction after the current negative momentum.

Nearest resistance levels: 15400, 15850, 16300, 16800, 17250, 17500, 18000, 18600, 19000

Nearest support levels: 15000, 14000, 13600, 12500

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.