Technical Analyst, Saxo Bank Group
AEX25 is hovering around strong resistance at around 670-673. RSI hasn’t closed above 60 i.e., still showing negative sentiment.
A close above 673 could push AEX25 to strong resistance around 700.
If AEX cannot close above 673 sellers could regain control and push the Index to close below 654 bear trend is resuming pushing AEX towards previous lows.
Medium-term AEX needs to close above falling trendline to indicate uptrend what will be confirmed by a close above 737
BEL20 is dancing around the 0.618 retracement of the September sell-off at 3,560. RSI has not closed above 60i.e., still negative sentiment. The short-term trend is up but if BEL20 fails to close above 3,580 and RSI fails to close above 60 the trend is likely to reverse.
If BEL20 closes below 3,478 bear trend could resume and will be confirmed by a close below 3,397.
If buyers can close the Index above 3,580 there is room up to around 3,740-3,766 with some resistance at 3,639
Medium-term BEL20 needs to close above 3,740 to reverse to uptrend.
CAC40 is in a short-term uptrend supported by RSI above 60. There is divergence on RSI however, meaning the uptrend/bounce could be exhausting. Strong resistance around 6,394.
If CAC40 drops back below the 55 SMA sellers could get a second wind sending the Index lower. Support at 5,953 and 6,040.
Medium-term trend is still down until CAC closes above 6,610 and above falling trendline
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Head of Fixed Income Strategy
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Head of Commodity Strategy
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Chief Investment Strategist
Quarterly Outlook
Head of Fixed Income Strategy
Quarterly Outlook
Head of Commodity Strategy
Disclaimer
The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research 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. To the extent that any content is construed as investment research, you must note and accept that the 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 under relevant laws.
Please read our disclaimers:
- Notification on Non-Independent Investment Research (https://www.home.saxo/legal/niird/notification)
- Full disclaimer (https://www.home.saxo/en-gb/legal/disclaimer/saxo-disclaimer)