Technical Analyst, Saxo Bank
AEX25 is bouncing around 710 level. It could be range bound between 719 and 700 for next few days. A break out form this range is likely to decide the direction of trend. A close above 719 AEX could extend uptrend to 736-741.
A close below 700 is likely to lead to a sell off down to around 678 possibly 665. 100 and 200 daily SMA will provide some support
RSI is still showing positive sentiment without divergence indicating higher levels but if RSI closes below its rising trendline and below 60 it will support at least a correction in AEX.
BEL20 has closed below its short-term rising trend line finding support at 3,569. A close below that level is likely to fuel a sell off down to around 3,497 support.
RSI has broken its rising trend line after showing divergence.
For BEL20 to extend the uptrend to 3,740-3,767 a close above 3,690 is needed
CAC40 is bouncing around resistance at 6,608 testing the short-term steep rising trendline.
A close below 6,522 is likely to cause the Index to drop to 6,394 but a sell-off down to around 6,200 is not unlikely.
For CAC40 to extend the uptrend a close above 6,056 is needed and is likely to push the Index to around 6,820.
No divergence on RSI indicates we could see higher levels but if CAC closes below 6,522 that scenario is quite likely off the table.
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