Multiplecharts1person_1024x768M Multiplecharts1person_1024x768M Multiplecharts1person_1024x768M

Technical Update - AEX25, BEL20, CAC40 and SMI20 still in corrective mood

Equities 5 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

AEX25/NETH25 cfd trading below key support at 781 and could sell-off down to around 765, the upper level of the support area 765-759.
The rising 55 and 200 DMA’s are adding to the support strength around these levels.

If AEX is closing back above 781 and RSI above 60 threshold there is great likelihood uptrend will resume.
A close above 793 will confirm bullish trend with likely new higher high above December peak at 798.

An RSI close above its falling trend line could be first indication the bullish scenario it to play out

aex d 0901
Source all charts and data: Saxo Group
neth25 d 0901

BEL20/BELG20 cfd is trading in its rising channel pattern i.e., in a bullish trend. Minor resistance at around 3,741. A close above BEL20 is likely to move higher to 3,823-3,849

A close below lower rising trendline BEL20 could be hit by sell-off down to 3,632-3,575

bel20 d 0901
belg20 d 0901

CAC40/FRA40 cfd After several times spiking below the key support at 7,405 the Index has managed to close above every single time. A close below is likely to fuel a sell-off down 7,307-7,204 support.

For CAC40/FRA40 to resume uptrend minimum requirement is a close back above 7,526.
If that occurs CAC40/FRA40 could push higher to test previous peak at around 7,652

RSI is still in positive sentiment with no divergence supporting higher Index levels

cac40 d 0901
fra40 d 0901

SMI20/SWISS 20 cfd Hovering around its rising trendline key support at 11,067. 200 DMA is adding to the support strength around that level.

A close above 11,068 next resistance is at around 11,245

To reverse the uptrend a close below 10,720

There is divergence on RSI indicating trend exhaustion. However, if SMI20/SWISS20 is closing above 11,292 a move to 11,437 would be in the cards.

A close below 11,067 could fuel a sell-off down toa round 10,900

smi d 0901
swiss d 0901
How to read my Technical Update Analysis; Technical analysis studies and indicators 

Quarterly Outlook 2024 Q3

Sandcastle economics

01 / 05

  • 350x200 peter

    Macro: Sandcastle economics

    Invest wisely in Q3 2024: Discover SaxoStrats' insights on navigating a stable yet fragile global economy.

    Read article
  • 350x200 althea

    Bonds: What to do until inflation stabilises

    Discover strategies for managing bonds as US and European yields remain rangebound due to uncertain inflation and evolving monetary policies.

    Read article
  • 350x200 peter

    Equities: Are we blowing bubbles again

    Explore key trends and opportunities in European equities and electrification theme as market dynamics echo 2021's rally.

    Read article
  • 350x200 charu (1)

    FX: Risk-on currencies to surge against havens

    Explore the outlook for USD, AUD, NZD, and EM carry trades as risk-on currencies are set to outperform in Q3 2024.

    Read article
  • 350x200 ole

    Commodities: Energy and grains in focus as metals pause

    Energy and grains to shine as metals pause. Discover key trends and market drivers for commodities in Q3 2024.

    Read article

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
Full disclaimer (https://www.home.saxo/legal/disclaimer/saxo-disclaimer)

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15
2900
Hellerup
Denmark

Contact Saxo

Select region

International
International

Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

This website can be accessed worldwide however the information on the website is related to Saxo Bank A/S and is not specific to any entity of Saxo Bank Group. All clients will directly engage with Saxo Bank A/S and all client agreements will be entered into with Saxo Bank A/S and thus governed by Danish Law.

Apple and the Apple logo are trademarks of Apple Inc, registered in the US and other countries and regions. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.