Technical Update - AEX25, CAC40 and BEL20
Kim Cramer Larsson
Technical Analyst, Saxo Bank
AEX 25 couldn’t close the gap and was rejected at 0.50 retracement. The Index still in a down trend, might have another go in coming days. However, if AEX trades below 648 expect lows at 632 to be tested.
CAC 40 couldn’t close the gap. However, there is divergence on RSI indicating selling pressure is weakening. CAC 40 could be range bound the coming week between 5,830 and 6,156. Break is needed for direction.
BEL 20 is testing the falling trend line once again. A close above followed by a close above 3,786 is likely to spur a rebound to around 3,900.
3,638 seems to be strong support. If we see a close below next key support is 3,562 i.e. close to March lows
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