Technical Update - AEX25, BEL20, CAC40 & SMI20

BEL20/BELG20 cfd seems to have formed an Inverted Shoulder-Head-Shoulder like pattern.

IF BEL20 can close above strong resistance at around 3,575 the RSI will close above 60 i.e., indicate higher Index levels.

The full potential of the SHS pattern is indicated by the vertical arrows i.e., to around 3,752 but a bullish move is likely to be cut short around the0.618 and 0.786 Fibonacci levels at 3,652-3,696.

It should also be noted that there is strong resistance at around 3,632. The declining 200 Daily Moving Average will also add to the overhead resistance.

CAC40/FRA40 cfd has closed above  7,203 resistance but seems to be struggling to get away from the 200 DMA. A minor correction could be seen. However, RSI is showing positive sentiment indicated likely higher CAC40 levels. No strong resistance until around 7,400.

SMI20/SWISS20 cfd is lagging other European Indices despite closing above the Gap area.
RSI is still showing negative sentiment and must close abgove 60 threshold to shift to positive

SMI20/SWISS20 could be forming a rising wedge like pattern. If breaking below the lower rising trendline the Index could resume bearish trend. Support at around 10,598
If RSI is closing above 60 threshold the bullish trend will be confirmed with potential up to 11,070

SWISS20 is currently being rejected at the 0.618 retracement at 10,760 and needs to close above for upside momentum.

 A close below 10,516 will confirm SMI/SWISS20 has resumed bearish trend. A close below the lower rising trendline would be first warning of this scenario to play out