Equities webinar with Peter Garnry
Technical analysis

Cramer's Corner: Daily Technical Update

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:

  • S&P 500. Top and reversal pattern
  • Nasdaq 100 Top and reversal pattern
  • EuroStoxx50 correction unfolding, key support 4,888
  • DAX. Rebounding, could it make new high? support around 18,191
  • AEX25 Toppish but strong uptrend
  • CAC40 bounced from support at 8,042
  • SMI20 correction likely down to 11,800-11,720
  • Time 3.28
  • EURUSD bounced from 100 DMA, could test resist at 1.0885, potential to 1.10
  • EURGBP key strong support at 0.85
  • GBPUSD Upside potential to 1.28. support 1.26
  • USDJPY Resist at 157. Still bullish potential to 158.45 but could hit by correction
  • EURJPY stretched upside to 171.65
  • AUDJPY range bound 102.80-104.60
  • GBPJPY rising channel, uptrend stretched but potential to 200.65
  • AUDUSD uptrend but struggling, correction support at 0.6580-0.6558
  • USDCAD false break of falling trendline? Upside potential to 1.3850-1.39
  • EURCHF eyeing par 1.00. Can it reach it?
  • USDCHF RSI needs to close back above 60
  • Dollar Index above at 104.84, resuming uptrend?
  • Time 10.18
  • Gold likely rebounding but risk of 2,314
  • Silver strong rebound from 30
  • Platinum rebounding from 1,015
  • Copper support and likely rebound from 0.618 retracement at 474.50.
  • WTI testing 76.60.
  • Brent Crude support around 81.42-80.72
  • US 10-year T-yields rebounding from 0.786 retracement at 4.29. Resist at 4.53

Follow me for more on SaxoTrader platforms, home.saxo and X (Twitter): Cramers_Corner

Quarterly Outlook 2024 Q2

2024: The wasted year

01 / 05

  • 350x200 steen

    Macro: It’s all about elections and keeping status quo

    Markets are driven by election optimism, overshadowing growing debt and liquidity concerns. The 2024 elections loom large, but economic fundamentals and debt issues warrant cautious investment.

    Read article
  • 350x200 charu (1)

    FX: The rate cut race shifts into high gear

    As US economic slowdown hints at a shift away from exceptionalism, USD faces downside with looming Fed cuts. AUD and NZD set to outperform as their rate cuts lag. JPY gains on carry unwind bets and BOJ pivot.

    Read article
  • 350x200 peter

    Equities: The AI and obesity rally is defying gravity

    Amid AI and obesity drug excitement, equities see varied prospects: neutral on overvalued US stocks, negative on Japan due to JPY risks, positive on Europe. European defence stocks gain appeal.

    Read article
  • 350x200 althea

    Fixed income: Keep calm, seize the moment

    With the economic slowdown, quality assets will gain favour, especially sovereign bonds up to 5 years. Central banks' potential rate cuts in Q2 suggest extending duration, despite policy and inflation concerns.

    Read article
  • 350x200 ole

    Commodities: Is the correction over?

    Commodities poised for rebound. The "Year of the Metal" boosts gold and silver, copper awaits rate cuts. Grains may recover, natural gas stabilises. Gold targets $2,300-$2,500/oz, copper's breakout could signal growth.

    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)
Full disclaimer (https://www.home.saxo/legal/saxoselect-disclaimer/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.