Technical Update - STOXX50, DAX, CAC40 & AEX
Kim Cramer Larsson
Technical Analyst, Saxo Bank
DAX still trading below short term falling trend line and is technically in a down trend. To neutralize or reverse the down trend a daily close above 14,600 is needed. At the time of writing RSI is being rejected at 60 threshold i.e. still in negative sentiment and no divergence .
If DAX closes the gap from this morning and closes below 13,970 selling pressure is likely to intensify.
EuroStoxx50 down trend is intact. A daily close below 3,692 is likely to fuel selling pressure. A daily close above 3,834 a short term move towards 3,900-3,950 should be expected.
CAC40 trading in short term falling channel 21th April where market closed above falling trend line seems to be an outlier day – a false break out. This morning CAC40 seems to be rejected at the 55 daily SMA and the upper trend line in the channel.
If CAC closes above 6,602 a move towards strong resistance around 6,750 could be seen.
AEX moving in a falling channel. Seems to be rejected at 55 daily SMA. Closing gap from this morning and moving below 700 is likely to intensify selling pressure. If closing the day above 720 we could se a short move towards 732-741.
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.