29.02.2016 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 was not able to continue its growth after has broken the resistance level of 1950 and corrected to the local ascending channel's lower border. In case of continued growth within the channel, the price can reach the marks 1990 and 2020. The signal for opening short positions will be breaking through the bottom of the channel and overcoming of support at 1910. Our forecast for the coming months remains negative, but the current growth can continue within the next few days.
Nearest resistance levels: 1950, 1990, 2000, 2020, 2050, 2065, 2080
Nearest levels of support: 1910, 1860, 1820, 1800, 1780, 1750, 1720
The price of the futures on the German stock index DAX30 could not continue its growth after reaching the level of 9600, and corrected downward. When saving the current downward impulse, quotations will reach the marks 9300 and 8800. We expect the resumption of growth in the coming weeks with the potential of hitting the marks 10150 and 10800. Our medium-term outlook remains negative.
Nearest resistance levels: 9800, 10150, 10400, 10800, 11000, 11200
Nearest levels of support: 9100, 9000, 8500, 7900, 7500
The price of the futures on the Japanese stock index Nikkei225 has shown a sharp decline after has not been able to gain a foothold above the level of 16300. Current trend is likely to continue in the near future to 15700 and breaking through this level will be the reason for the fall with the target at 15000. On the other hand when fixing above 16300, we recommend to open long positions with the first targets at 17250 and 18000. Our medium-term outlook is positive.
Nearest resistance levels are: 16300, 17250, 17500, 18000, 18600, 19000, 19400, 19700
Nearest support levels are: 15700, 15000, 12500