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Technical Update - AEX25 / NETH25, BEL20, CAC40 / FRA40 and SMI 20 / SWISS20
Kim Cramer Larsson
Technical Analyst, Saxo Bank Group
AEX 25 / NETH25 cfd with a higher close in the Index yesterday the RSI divergence was cancelled.
Resistance at around 781 however, could be a hard resistance to crack in first take but a close above could push AEX to test the July peak at around 795.
A close below 759 will reverse the uptrend
BEL20/SWISS20 cfd if closing above resistance at around 3,632 there is upside potential to strong resistance at around 3,728
Uptrend demolished if closing below 3,575 CAC40/FRA40 cfd is at the time of writing breaking above the resistance at around 7,405. If closing above there is potential to 7,526
A close below could be the start of a correction down to around 7,300
RSI is still in positive sentiment with no divergence supporting higher Index levels
SMI20 Trading in a rising channel is at the time of writing trading above minor resistance at 10,963 crawling higher towards strong resistance at 11,068.
The declining 200 DMA is adding to the resistance strength
A close above 11,068 next resistance is at around 11,245
To reverse the uptrend a close below 10,720 SWISS 20 cfd levels: Strong resistance at around 10,077 and 11,245.
Trend reversal below 10,718
Trend reversal below 10,718
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