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CFDs and forex (FX) are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs, FX, or any of our other products work and whether you can afford to take the high risk of losing your money.
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Major indices hovering around key support levels

Equities 4 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

Summary:  Beware of the bears! Saxo technical analyst Kim Cramer Larsson identifies four very similar and decidedly bearish trends in four of the world's leading equity indices. These are levels to watch.

First, Germany's Dax, which has broken below medium-term trend (and a triangle-like pattern) trading a few points above support at 11,854. Beware of the Body Gap between that level and 11,754. A close below 11,754 could trigger a sell-off down to around 11250. Above 12,125 the bear picture demolished

The Cash Index is shown below to better illustrate the gap: 
Dax
Source: Saxo Bank
The S&P500 (CFD:US500) : The cash Index closed just a few points off 2,798 support (close Tuesday was 2,802). The S&P500 future is currently trading below. The next support, which is not very strong is around 2,722. RSI bearish. A bear trend would seem to be confirmed if the S&P500 does not close above 2,798 tonight. Above 2,900 and the bear picture is demolished.  
S&P500
Source: Saxo Bank
Nasdaq 100 (CFD:NAS100). Yesterday Nasdaq 100 cash index closed below its strong support at 7,300. Next support area is 7,000- 
Nasdaq
Source: Saxo Bank
Nikkei 225 (CFD: JP225):  Hovering around support area around 20,925. Spiked below a few times. RSI bearish. Next support around 20,000.
Nikkei
Source: Saxo Bank

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