Cramer's Corner: Daily Technical Update
Technical analysis

Cramer's Corner: Daily Technical Update

Kim Cramer Larsson
Technical Analyst, Saxo Bank Group

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 intact. Plus new Bear Engulfing created. A correction very likely. Support at 4,455
  • Nasdaq 100. Correction down to 15K-14687 likely
  • Hang Seng broken bullish. Likely move to 20,155 and 20,865.
  • DAX closed above 16,210 i.e., uptrend confirmed
  • AEX25 Uptrend to 802. Possibly 830
  • BEL20 uptrend but likely minor correction
  • CAC40 Broken above resist at 7,403 but indicators not supporting bullish break. However, no resist until 7,581  
  • EURUSD bounced off rising trend line and the 0.786 retracement. Uptrend likely to resume
  • Dollar Index testing 0.618 retracement at 101.73. Down trend to resume
  • GBPUSD correction could be over at 1.28 support and uptrend likely to resume
  • USDJPY bounced from 138. Could be resuming uptrend. Testing resist at 142
  • EURJPY Bouncing from 0.618 retracement. Re-test of strong resistance at 158
  • AUDUSD Range bound 0.66 – 0.69
  • Gold likely range bound between 1,940-1,985 next week or so but bullish trend
  • Copper trying to build uptrend. Resistance at around 395  
  • Brent above resistance at 83. Next resistance at 87.25
  • WTI above resistance at 79.20. Next resistance at 83.35
  • Wheat rejected at June peak at 784. Could test key support at 700-696

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