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Technical analysis

Cramer's Corner: Daily Technical Update with ASML and Cocoa top and reversal

Kim Cramer Larsson
Technical Analyst, Saxo Bank

Summary:  Cramer’s Corner: Daily Technical Update

Kim Cramer Larsson hosts the Daily Technical Update, a daily 8-10 minute video with live charts.
Kim takes you through the latest technical developments in financial markets, covering everything from the major stock indices, widely traded single stocks, commodities, currencies and interest rates

In today’s Technical Update:

  • ASML bouncing from support at 858
  • S&P 500 downtrend trading around support at 5,057
  • Nasdaq 100. Downtrend below support at 17,808, next 17,478
  • EuroStoxx50 downtrend support at 4,888, if below then 4,800
  • DAX below support at 17,900, next 17,620
  • AEX25 testing key support at 860 after ASML earnings
  • CAC40. Just above support at 7,875
  • SMI20 could sell off to 11,060 area
  • Time 3.55
  • EURUSD finding bids at 1.06 expect minor rebound
  • GBPUSD bouncing from support at 1.2410
  • USDJPY upside potential to 155.30
  • EURJPY a break of 164.70 likely move to 166.30
  • AUDJPY 0.786 retracement at 98.74
  • GBPJPY likely to trade higher , could reach 193.50
  • AUDUSD bouncing from support at 0.64
  • USDCAD no resist until around 1.39
  • USDCHF trading sideways expect minor correction
  • EURCHF correction could drop to 0.9625
  • Dollar Index uptrend no resist until around 107 but expect minor correction
  • Time 9.30
  • Gold uptrend stretched, expect correction, support at 2,319
  • Silver 0.382 retracement, below 27.50 then 26.42
  • Platinum correction, likely down to 935
  • WTI correction likely to 82.56-81.43. Brent to 87.35?
  • Dutch Gas above key resist, potential to 35.86
  • Cocoa top and reversal pattern, expect sell-off/correction 
  • US 10-year T-yields upside potential to 4.70-4.75 short-term

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