Cramer's Corner: Daily Technical Update
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Summary: Cramer’s Corner: Daily Technical Update
Kim Cramer Larsson hosts the Daily Technical Update, a daily 8-10 minute video with live charts.
Kim takes you through the latest technical developments in financial markets, covering everything from the major stock indices, widely traded single stocks, commodities, currencies and interest rates
In today’s Technical Update:
- Dow Jones cancelled top and reversal
- S&P 500 Top and reversal pattern cancelled. Eyeing 5,300
- Nasdaq 100. Top and reversal still intact. Needs to close above 18,417
- Semiconductor sector and Nvidia top and reversal still in place
- EuroStoxx50 higher stretching uptrend
- DAX uptrend very stretched, key support at 17,620
- AEX25 key support at 837
- CAC40. Uptrend key support at 7,875. Potential to 18,427
- SMI20 If breaking above 11,808 12K is in sight
- Time 5.08
- EURUSD strong bounce from 1.0838 after testing twice, likely resuming uptrend
- EURCHF bullish shortterm potential to 0.9840. 1.00?
- GBPUSD bounced from support at 1.2660 uptrend resumed with potential to 1.29-1.30
- USDJPY lost steam just below 2022 peak at 151.95, expect range bound
- EURJPY reached its potential target at 165, expect setback
- AUDJPY spiked above 100, expect minor setback but further upside potential
- GBPJPY uptrend hit spot on 1.618 projection at 193.40, expect setback
- USDCHF failed to close above 0.89 but now breaking it. Resist at 0.9050
- Dollar Index almost reached 0.618 retracement before tide turned, resuming downtrend ?
- Time 10.24
- Gold resuming uptrend, potential to 2,250-2,300
- Silver likely to reach 26.00
- Copper broken 400 potential to 420-430
- WTI uptrend but minor correction. Potential to 85-87 but a struggle
- Brent Crude oil uptrend resistance at 87.35. Above potential to 90.50
- US 10-year T-yields rejected at 4.35. Could slide back to 4.20. Range bound likely
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