Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
You can access all of our platforms from a single Saxo account.
Technical Update - ASX 200 bouncing from support. Will uptrend resume?
Equities 1 minute to read
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Summary: ASX 200 has bounced from key support area. The correction could be over but it will be a struggle to resume uptrend. 6,900 is key level
ASX 200 is bouncing from support around 6,905 despite having dipped just below and now seems to lay the foundation for a short-term uptrend.
RSI indicated divergence i.e., the downtrend in February-March had exhausted. RSI has closed above its falling trendline suggesting ASX200 could bounce to 0.618 retracement and resistance around 7,190. However, a spike up to around 7,268 should not be ruled out. Minor resistance at 7,076.
If ASX 200 takes out last week’s lows at 6,895 downtrend will resume with no strong support until around 6,645.
Medium-term. ASX 200 is currently back above the cloud (shaded area) and if closing the week above the bullish trend is set to resume. RSI is still showing positive sentiment and has bounced from 40 threshold.
If ASX closes above 7,370 the medium-term uptrend is further confirmed with a likely test of previous all-time high to follow.
AUS200 cfd:
Latest Market Insights
Quarterly Outlook
-
-
Quarterly Outlook
Equity Outlook: The ride just got rougher
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
China Outlook: The choice between retaliation or de-escalation
Charu Chanana
Chief Investment Strategist
-
Quarterly Outlook
Commodity Outlook: A bumpy road ahead calls for diversification
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
FX outlook: Tariffs drive USD strength, until...?
John J. Hardy
Global Head of Macro Strategy
-
Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
-
Quarterly Outlook
Equity Outlook: Will lower rates lift all boats in equities?
Peter Garnry
Chief Investment Strategist
After a period of historically high equity index concentration driven by the 'Magnificent Seven' sto... -
Quarterly Outlook
Commodity Outlook: Gold and silver continue to shine bright
Ole Hansen
Head of Commodity Strategy
-
Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
The Fed started the US rate cut cycle in Q3 and in this macro outlook we will explore how the rate c... -
Quarterly Outlook
FX Outlook: USD in limbo amid political and policy jitters
Charu Chanana
Chief Investment Strategist
As we enter the final quarter of 2024, currency markets are set for heightened turbulence due to US ...