Technical Update - CAC40, AEX, BEL20 & SMI
Kim Cramer Larsson
Technical Analyst, Saxo Bank
CAC40 testing support area 6,421-6,500. A close below 6,421 will confirm downtrend to resume. A re-test of March is likely if that scenario plays out. RSI showing bearish sentiment indicating bear trend likely to resume.
A daily close above 6,615 will push CAC 40 to neutral.
AEX Amsterdam downtrend confirmed but do expect a day or two where buyers try to drag prices back above resistance at 718. RSI is showing bearish sentiment indicating March lows to be tested. A close below 700 will likely accelerate selling. AEX needs to close above 743 to reverse the down trend
BEL20 has outperformed most European markets with strong rebound and uptrend but that could now have come to an end. Back below 200 SMA finding some support at 100 SMA. Expect the Index to be range bound between 4,250 and 4,100 next few days. Support at 4,030. A close below and gap likely to be closed with intensified selling pressure. Above 4,254 uptrend to resume
Swiss SMI is in a short term uptrend broken above resistance at 12,411 only to open below today. RSI is bullish with no divergence which indicate SMI could move higher. However, 12,411 seems to be the Pivot for continued uptrend or the end of it. If SMI moves below the 100 and 200 SMA’s the key support at 12,069 is likely to come under pressure.
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.