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Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
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Technical Update - AEX25 higher. BEL20 in downtrend. CAC40 range bound
Kim Cramer Larsson
Technical Analyst, Saxo Bank Group
Summary: AEX25/NETH25 cfd in uptrend. Eyeing 770
BEL20/BELG20 cfd in downtrend finding support
CAC40/FRA40 range bound. Break out needed for direction
AEX 25 broke resistance at around 759 but seems to be rejected at 770 with a Shooting Star like candle Friday. If AEX gets a down day to day it is confirmed and would indicate a top and reversal.
However, the reversal can be a short-lived correction as the RSI is showing positive sentiment and with no divergence thus indicating higher Index levels are in the cards. A test of the February peak at around 777 could be seen.
An Index close below 759 would put the uptrend on hold but to demolish this bullish picture a close below 741 is needed.
NETH 25 cfd levels:
BEL20 is in a downtrend finding support at around 3,667. RSI is in negative territory supporting the bearish picture.
A bearish trend that could take BEL 20 down to around 3,600-3,570 if the Index closes below 3,667
For BEL20 to reverse to an uptrend first indication would be a close above its short-term falling trendline.
A close above 3,815 will confirm an uptrend to 3,900.
BELG20 cfd levels:
CAC40 is caught in a range between 7,500 and 7,300. A close either above or below is needed for direction.
A close above 7,508 is likely to push CAC40 to new all-time highs with potential target at 7,775
A close below 7,300 could see CAC40 to drop to around 7K
FRA40 cfd levels:
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