Macro: Sandcastle economics
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Technical analysis
Cramer's Corner Daily Technical Update
Kim Cramer Larsson
Technical Analyst, Saxo Bank
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:
- S&P 500. Top & reversal pattern. Correction unfolding. Testing trendline. Support at 4,455
- Nasdaq 100. Correction down to 15K-14687 likely
- DAX Bearish. Likely to drop to 15,482 support area OR False break?
- AEX25 Closed below support at 768 i.e., downtrend to 748support
- BEL20 uptrend but likely minor correction
- CAC40 Key support at 7,251. If broken downtrend to 7,100
- EURUSD Finding support at 0.786 retracement. Likely bounce and uptrend to resume
- Dollar Index rejected at 0.786 retracement at 102.41
- GBPUSD bounced just above key support at 1.2590. RSI bullish
- USDJPY testing once again 0.786 retracement at 143.40. A close above could lead to 145
- EURJPY close to be testing strong resist at 158
- EURNOK range bound. Shoulder-Head-Shoulder pattern still intact but could be demolished
- EURSEK testing 0.618 retracement. Move back towards previous peaks likely
- Gold hovering around support at 0.618 retracement at 1,929. RSI still bullish
- Silver below support at 24.10. Could drop to 22.15
- Copper broken bearish out of rising channel. Support at 370 likely to be tested
- Brent resistance at 87.25. Likely range bound between 87.25 and 82
- WTI reaching resistance at 83.50. Likely range bound between 83.50 and 79
- US 10-year correction. Minor support at 3.90. Resistance at 4.22
Follow me for more on SaxoTrader platforms, home.saxo and Twitter: Cramers_Corner
Quarterly Outlook 2024 Q3
Sandcastle economics
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Equities: Are we blowing bubbles again
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FX: Risk-on currencies to surge against havens
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Commodities: Energy and grains in focus as metals pause
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