Technical Update - CAC40, AEX, BEL20 and SMI
Kim Cramer Larsson
Technical Analyst, Saxo Bank
CAC40 correction could have come to an end with the past two days of selling pressure. Some overhead resistance with the 100 SMA declining. If CAC closes below lower rising trend line selling is likely to be fueled.
AEX Amsterdam seems to have hit resistance at 719. RSI rejected at 60 i.e. still in negative sentiment and with yesterday’s sell-off buyers are likely to have run out of steam. If AEX closes below lower rising trend line selling pressure is likely to intensify pushing for May and probably also March lows.
A Daily close above 720 could extend short term corrective uptrend to around 741
BEL20 with Wednesday lower close BEL20 has confirmed down trend. Support at around 3,758. To neutralize that picture a daily close above 3,986 is needed.
SMI20 still in down trend, failing to close above 11,809. With all SMA’s declining underlying trend is down with strong overhead resistances. May lows and quite possibly also March lows are to be tested. To neutralize the down trend a daily close above 11809 is needed.
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.