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Technical Update - AEX25. BEL20 & CAC40

Equities 2 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

Summary:  AEX25 and CAC40 still hanging on to key supports. BEL20 is downtrend testing supports potential

Today's Market Quick Take from the Saxo Strategy Team

AEX25 In the broader picture AEX is still range bound between 772 and 735 with the latter as a key support. A close below 735 the RSI will also close below 40 i.e., confirm a downtrend with down side potential short-term to around 700. Some support at around 712-707

aex25 d 13mar
Source all data and chats : Saxo Group
BEL20 took out key support at 3,819 with a bang. And is fast approaching strong support at around 3,700. 200 Moving Average will add to the support meaning a minor rebound could be seen. However, trend is down and a move down to support at around 3,913 seems likely.

To reverse this bearish picture a close above 3,900 is needed. First indication of this to play out would be a close a of the gap from Thursday


bel20 d 13mar

CAC40 is testing key support at around 7,187 and the rising trendline. A close below both could fuel a sell-off down to next support at around 6,946
If this bearish scenario play out a close above 7,401 is needed to reverse it.

 

cac40 d 13mar

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