29.09.2015 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 rebounded from the bottom of the local descending channel after a strong decline yesterday. It is worth noting that the quotes broke through the lower boundary of the corridor 1910-2000, which is the basis for the reduction of quotations to the level of 1850. Our medium-term outlook remains positive, but the drop in prices is likely to continue in the near future.
Nearest resistance levels: 1910, 1950, 2000, 2025, 2045, 2070, 2085, 2100, 2120, 2135
Nearest support levels: 1886, 1850, 1780
The price of the futures on the German stock index DAX30 is consolidated around the level of 9600 and continues moving inside the local descending channel. In case of breaking through its upper border and the beginning of correction, the price will return to the level of 10000. The immediate objectives at the further falling of the price will be 9000 and 8500. We expect growth in the medium term, but in the near future there is a possibility of further fall of quotes.
Nearest resistance levels: 9600, 10000, 10400, 10800, 11200, 11400, 11800, 12000, 12400
Nearest support levels: 9400, 9000, 8500
The price of the futures on the Japanese stock index Nikkei225 broke through the strong support level at 17500 and reached 17000. Correction of price is possible up to the mark 17500 and the inclined resistance line. Securing below 17500 will confirm the signal for opening short positions with a target at 16000. We expect growth in the medium term and fall of price may be resumed in the near future.
Nearest resistance levels are: 17500, 18500, 19200, 19400, 20000, 20400, 20650, 21000, 21500
Nearest support levels: 16500, 16000, 15200