Technical Update - EuroStoxx50, DAX, AEX25, BEL20, CAC40 and SMI20
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Résumé: Including EU50, GER40, NETH25, BELG20, FRA40 and SWISS20 cfd’s
You can get the latest technical picture and trends watching the Daily Technical Update video's
EuroStoxx50/EU50 cfd testing resistance at around 4,210/4,218. A break above could fuel a short rally higher to the upper falling trendline possibly to the 200 Moving Average. Declining 55 and 100 Moving Averages indicating underlying bearish trend and are providing overhead resistance
However, trend is down and Stoxx50/EU50 needs to close above 4,327 to confirm uptrend. If rejected at the resistance level at 4,210/4,218 down trend is likely to resume with a move towards 4,035-3,980 area
DAX bounced from support last week and is close to testing resistance at around 15,483. It is not the strongest resistance but a close above could lead to further rebound to around 15,700-15,750 area.
Around that level the 55 and 100 Moving Averages are coming providing some resistance and underlying bearish trend.
RSI still showing negative sentiment but there is minor divergence supporting the rebound scenario
For DAX to resume uptrend a close above 16K is neededAEX 25 has bounced back above 730 and could move to t4est the key strong resistance at around 750. However, the 55 Moving Average coming down just above where AEX is currently trading will give resistance that could cut short the rebound
RSI is still showing negative sentiment and needs to close above 60 to reverse to positive sentiment and support further upside potential for AEX
If AEX is sliding back below 730 downtrend will resume with a likely move to test 715 -710 levels.
NETH25 in very short-term uptrend with potential to 750 resistance but RSI needs to break above 60 threshold.
55 Moving Average and upper falling trendline will provide resistance. If sliding back below 730 expect AEX to drop to 715-710 level
BEL 20/BELG20 cfd bounced from new lows around 3,450 . Could test 3,579 resistance shortly .
However, all Moving Averages are declining with 21, 55 and 100 the most important ones, they will provide resistance. Strong resistance at around 3,632
If BEL20 is closing below 3,490 expect lower levels below last week’s around 3,445
CAC40 is back above 7K after a couple of days trading just a few cents below. However, strong overhead resistance at around 7,203 and the upper falling trendline plus the declining 55 and 100 Moving Averages will most likely limit the upside potential
If CAC40 is closing below 7,060 downtrend is likely to resume towards 6,885 and 6,795
To confirm and uptrend a close above 7,300 is needed
SMI 20/SWISS20 cfd bounced from support at around 10,750. If closing above 11,075 a move to strong resistance at around 11,400 is in the cards.
If sliding back to close below 10,837 downtrend will resume with a move towards 10,516