Technical Update - DAX40, CAC40, AEX25, BEL20 and SMI20

As can be seen from the Weekly time period 14,800 seems to be the key support level. If breaking below there is not much support before around 13K.
A break below 14,800 will also confirm the double/triple top like formation.

FRA40 cfd (CAC40) got rejected at 7,150 which is just few points above the bear break out level in January (7,100). It is also the 0.618 Fibonacci retracement level of the entire January bear move.

FRA40 has formed what looks like a Doji Evening star formation indicating top and reversal. CAC is now back below the 55 SMA testing rising trend line going back to October 2021.  If CAC takes out Friday low at 6,914 a re-test of strong support at around 6,750 is likely.
6,750 is key. If CAC 40 closes below it also closes below 200 SMA paving the way for further sell off down to around 6,400.

To reverse this (downwards pressure) picture CAC needs to close above 7,150.

Similarly to FRA40 the rebound in NETH25 (AEX Index) got rejected at the January bear break out level at around 770 pushing the price back below 200 SMA currently testing the 750 support.
A move below Friday low at around 741 is likely to further fuel sell off and the having another go at the 734 support but is likely to drop to around 711. To reverse this bearish picture NETH25 ne3eds to break above 725.

Rebound in BELG20 cfd (BEL20) ran out of steam already at around the 0.382 Fibonacci retracement level to test January lows. A close below next strong support is around 3,750

SWISS20 cfd (SMI20) is close to test 200 SMA and support at around 12K. A daily close below is likely to increase selling pressure and a test of January lows around 11,750. Below next support is at around 11,500

To reverse the current negative picture a close above 12,500 is needed.