Technical Update - DAX & AEX25 in down trends. CAC40 range bound. BEL20 correction Technical Update - DAX & AEX25 in down trends. CAC40 range bound. BEL20 correction Technical Update - DAX & AEX25 in down trends. CAC40 range bound. BEL20 correction

Technical Update - DAX & AEX25 in down trends. CAC40 range bound. BEL20 correction

Equities 4 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

Summary:  DAX/GER40 and AEX25/NETH25 are in confirmed downtrends. CAC40/FRA40 range bound. BEL20/BELG20 in correction phase that could turn to bearish trend


DAX seems to be finding some support at the 0.786 retracement. The trend is down supported by negative RSI sentiment.
Strong support at around 15,482.

However, with the almost flat 55 Moving Average and the rising 100 and 200 Moving Averages DAX could find itself range bound between 16K and 15,485 for quite some time with sentiment to the downside.

To demolish the bearish picture and resume to uptrend a close above 16,060 is needed.

Source all charts and data: Saxo Group

GER40 cfd bouncing from 0.786 retracement at 15,682- Trend is down supported by negative RSI sentiment indicating GER40 could test support at around 15,500

AEX 25/NETH25 cfd are in a downtrend following the sell/off yesterday where the index closed below 763.

This morning AEX is opening below the Cloud and the RSI is currently below 40 threshold. If that picture still stands at the end of the day (or tomorrow for that matter) the down trend is further confirmed.

Strong support at around 748 could be tested in a few days.
A close below 748 could push AEX down to 740-735 area.
To reverse the down trend a close above 781 is needed.

BEL20/BELG20 cfd closed below support at around 3,676 only to find support at the 0.50 retracement at 3,654.
The 55 daily Moving Average will offer some support RSI is still holding on above 40 threshold.

The BEL20 index could be sandwiched between the 55 and the 200 Moving Averages  for some time before a clear direction. However, if the RSI is closing below 40 expect further downside.  Quite likely to around 3,550.
A close above 3,747 uptrend will resume.

CAC 40 is once again testing support at 7,251 and the lower part of the Cloud. RSI is still in positive sentiment and the 21, 55 and 100 Moving Average are in tight range and almost flatlined. The Index seems quite range bound.

A close below 7,250 is likely to lead to a sell-off down to strong support at around 7,083. The 200 Moving Average will offer some support.
To resume uptrend a close above 7,465 is needed

FRA40 cfd opened below the Cloud this morning only to jump back in. The FRA40 could be range bound for a few more days and needs to close below 7,217 for downside momentum.
RSI still positive sentiment

Disclaimer

Saxo Capital Markets (Australia) Limited prepares and distributes information/research produced within the Saxo Bank Group for informational purposes only. In addition to the disclaimer below, if any general advice is provided, such advice does not take into account your individual objectives, financial situation or needs. You should consider the appropriateness of trading any financial instrument as trading can result in losses that exceed your initial investment. Please refer to our Analysis Disclaimer, and our Financial Services Guide and Product Disclosure Statement. All legal documentation and disclaimers can be found at https://www.home.saxo/en-au/legal/.

The Saxo Bank Group entities each provide execution-only service. Access and use of Saxo News & Research and any Saxo Bank Group website are subject to (i) the Terms of Use; (ii) the full Disclaimer; and (iii) the Risk Warning in addition (where relevant) to the terms governing the use of the website of a member of the Saxo Bank Group.

Saxo News & Research is provided for informational purposes, 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. No representation or warranty is given as to the accuracy or completeness of this information. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. No Saxo Bank Group entity shall be liable for any losses that you may sustain as a result of any investment decision made in reliance on information on Saxo News & Research.

To the extent that any content is construed as investment research, such 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.

None of the information contained here constitutes an offer to purchase or sell a financial instrument, or to make any investments.Saxo Capital Markets does not take into account your personal investment objectives or financial situation and makes no representation and assumes no liability as to the accuracy or completeness of the information nor for any loss arising from any investment made in reliance of this presentation. Any opinions made are subject to change and may be personal to the author. These may not necessarily reflect the opinion of Saxo Capital Markets or its affiliates.

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

Saxo Capital Markets (Australia) Limited
Suite 1, Level 14, 9 Castlereagh St
Sydney NSW 2000
Australia

Contact Saxo

Select region

Australia
Australia

The Saxo trading platform has received numerous awards and recognition. For details of these awards and information on awards visit www.home.saxo/en-au/about-us/awards

Saxo Capital Markets (Australia) Limited ABN 32 110 128 286 AFSL 280372 (‘Saxo’ or ‘Saxo Capital Markets’) is a wholly owned subsidiary of Saxo Bank A/S, headquartered in Denmark. Please refer to our General Business Terms, Financial Services Guide, Product Disclosure Statement and Target Market Determination to consider whether acquiring or continuing to hold financial products is suitable for you, prior to opening an account and investing in a financial product.

Trading in financial instruments carries various risks, and is not suitable for all investors. Please seek expert advice, and always ensure that you fully understand these risks before trading. Saxo Capital Markets does not provide ‘personal’ financial product advice, any information available on this website is ‘general’ in nature and for informational purposes only. Saxo Capital Markets does not take into account an individual’s needs, objectives or financial situation. The Target Market Determination should assist you in determining whether any of the products or services we offer are likely to be consistent with your objectives, financial situation and needs.

Apple, iPad and iPhone are trademarks of Apple Inc., registered in the US and other countries. AppStore is a service mark of Apple Inc.

The information or the products and services referred to on this website may be accessed worldwide, however is only intended for distribution to and use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. Products and Services offered on this website is not intended for residents of the United States and Japan.

Please click here to view our full disclaimer.