31.05.2016 - Technical view on stock indexes
The price of the futures on the American stock index S&P500 continues to consolidate around the level of 2100. In case of continued growth, quotations will reach the resistance levels at 2120 and 2135. According to our estimates, the growth potential in the near future is limited, and the more likely is the continuation of the negative dynamics of price with the closest objectives at 2080, 2040 and 2000. Our outlook in the near future remains negative.
Nearest resistance levels: 2120, 2135
Nearest support levels: 2100, 2080, 2040, 2020, 2000, 1980, 1950, 1910, 1860, 1820, 1800
The price of the futures on the German stock index DAX30 decreased slightly within the local uptrend. In the near future, prices may continue the upward momentum and reach the levels 10500 and 10800. In case of resumption of negative dynamics, the closest targets will be 10150 and 9800. We expect to see downward movement in the near future, but the medium-term outlook remains positive.
Nearest resistance levels: 10500, 10800, 11000, 11200
Nearest support levels: 10150, 9800, 9600, 9000, 8750, 7900, 7500
The price of the futures on the Japanese stock index Nikkei225 continued to rise and reached the important resistance level at 17250 and its breaking through will be the reason for the further growth of quotations to 17500 and 18000. In case of correction, quotes, will return to the levels of 16800 and 16300. A breaking and consolidation below 16800, will be a signal about the change of the local descending trend. Our medium-term outlook remains negative, despite the increase in probability of reduction in the near future.
Nearest resistance levels: 17250, 17500, 18000, 18600, 19000, 19400, 19700
Nearest support levels: 16800, 16500, 15850, 15400, 15000, 12500