Technical Update - CAC40, AEX, BEL20, SMI & OMXC25
Kim Cramer Larsson
Technical Analyst, Saxo Bank
CAC40 sell-off accelerated pushing Index bearish out of already falling channel. We are likely to see CAC trying to get back above falling lower trend line but is not unlikely to get rejected by a new sell off. RSI is below 40 with no divergence indicating we could see lower levels below March lows.
Similar picture on BEL20 Index. Rebounding this morning and could test falling trend line next few days trying to get back above. However, selling pressure is likely to resume
AEX dipped below falling trend line yesterday now hovering around 0.764 Fibonacci retracement level. Minor rebound over next couple of days to around 687 is not unlikely. However, trend is down and AEX is likely to test March lows here in May. To neutralize this down trend a daily close above 715 is needed.
SMI bouncing off support area around 11,491-11,382. A couple of days rebound is to be expected. However, selling pressure is likely to resume and if breaking below 11,444 likely to intensify pushing SMI to test March lows around 11K.
OMXC25Cap seems to have found support at the March lows around 1,567. A rebound should be expected up to around 1,650. If closing below 1,567, 1,420 is next strong support.
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
- Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.