Technical Technical Technical

Technical Update - DAX, CAC40, OMX C25, AEX, SMI & BEL20

Equity 5 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

Summary:  European Equities trying to rebound from last week's sell off. The negative mood can quickly return putting pressure on support levels. Expect continued volatility.


GER40 experienced very volatile trading last week in a broad range between support at around 14,827 and resistance at the 200 SMA and 0,618 Fibonacci retracement at 15,610. 15,610 could prove too strong to penetrate. However, do expect buyers to try the coming week. If they succeed there is resistance around 15,722.
If this is a fourth corrective wave we are seeing it must not move above 15,723.
If sellers regain control to take the Index back below 15K a new attempt that the strong support at 14,827 is likely.

Source: Saxo Group

OMX C25cap/DEN25 found support around 1,700. Also rebound here should be expected possibly to test the resistance at around 1,800. A close below 1,710 is likely to resume the bear trend.

Source: Saxo Group

CAC40/FRA 40 has rebounded from 200 SMA and the support at around 6,730 And back above the rising trend line!. 55 SMA however, could be too strong a resistance to overcome. A break above 7,060 could fuel further upside. Below 6,835 will likely see sellers to regain control with a likely test of both support at around 6,658

Source: d Saxo Group

AEX25/NETH25 found support at 735 and has since bounced nicely. At the time of writing trading above the resistance above 750. There could be further upside to the 200 SMA around 765 and the 0,618 fibo retracement at 770. If the Index drop back below 750 a new attempt at 735 support could be seen.

Source: Saxo Group

SMI/SWISS20 closed below support at around 12,047 only to rebound strongly from 11,750. A rebound that could take it as high as 12,500. However, the sentiment is negative and it could be a struggle to reach those levels. Resistance at around 12,366.

Source: Saxo Group

BELG20. Sell off last Monday took the Index straight through the support at 4,045 dipping below 4K. That could have caused further selling panic but instead buyers came back in scooping up beaten down stocks lifting the Index back above. At present the 4,045 levels seems to be the pivot point for the market being either positive or negative. However, a new push below 4,000 could re-fuel the sell off. 4,117 is the price level needed to be taken out for upside potential towards 4,200 area.

Source: Saxo Group
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.