28.01.2016 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 is consolidated within the local triangle. The amplitude of price fluctuation is reduced and after consolidation within the triangle and fixing of price beyond it, we expect a strong price movement. Fixation above 1910 will cause the increase with targets at 1950 and 1990, and fixation below 1860 will cause further price reduction to 1780-1800. Our forecast for the coming months remains negative.
Nearest resistance levels: 1910, 1950, 1990, 2000, 2020, 2050, 2065, 2080
Nearest support levels: 1886, 1850, 1800, 1780, 1750, 1720
The price of the futures on the German stock index DAX30 broke through the upper limit of the local downward channel and can continue the upward movement in the near future to the resistance level near 10150. Fixation above this mark will be a signal for the continuation of the upward movement of price to 10800-11000. The fall in the coming days is limited by the level of 9400. Our medium-term outlook remains positive, despite the possible resumption of the fall of prices in the near future.
Nearest resistance levels: 10000, 10400, 10800, 11000, 11200, 11400, 11800
Nearest support levels: 9600, 9400, 9000, 8500
The price of the futures on the Japanese stock index Nikkei225 is consolidating near the upper boundary of the triangle. Its breaking through and fixation above this level of resistance at 17250 will confirm the signal for opening long positions with a stop below 16500 and target levels at 18600 and 19600. The breaking of the lower boundary of the triangle and fixation below 16500 will become the basis for the continuation of falling of price with potential targets at 16000 and 15200. We expect growth in the near future and strong price movements tomorrow.
Nearest resistance levels: 17200, 17500, 18000, 18600, 19000, 19400, 19700, 20000
Nearest support levels: 16500, 16000, 15200