Technical Update - AEX25, CAC40 & BEL20
Kim Cramer Larsson
Technical Analyst, Saxo Bank Group
AEX 25 is trying to close the gap from 13th June. If successful further upside to 685-700 is not unlikely. But if buyers fail to close the gap bear trend is likely to resume.
CAC 40 is hovering around the very short-term Bull/Bear pivot at 6,086, trying to close the gap from 13th June. If the gap is closed i.e., a daily close above 6,188 further upside to around 6,300 should be expected. Even if the gap is closed trend will still be down. and if the Index breaks below last weeks low at 5,830
BEL 20 seems to be range bound between 3,638 and 3,765. A close outside of this range is needed for direction. If BEL 20 closes above the falling trendline we are likely to see upside to around 3,900. Bearish break out the down trend is to continue.
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