Technical Update - AEX25 higher. BEL20 and CAC40 resuming uptrend? SMI20 still looking bearish Technical Update - AEX25 higher. BEL20 and CAC40 resuming uptrend? SMI20 still looking bearish Technical Update - AEX25 higher. BEL20 and CAC40 resuming uptrend? SMI20 still looking bearish

Technical Update - AEX25 higher. BEL20 and CAC40 resuming uptrend? SMI20 still looking bearish

Equities 4 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

AEX25/NETH25 cfd has propelled higher to all-time highs. To get an idea of how much higher AEX could climb we can add a few Fibonacci annotations.
The Index has now surpassed the 2.0 Fibonacci projection of the December correction at 829.50 pushing towards the 2.618 projection at 849.

However, using the Fibonacci Extension AEX could reach 853 if we assume this leg up will be equal in length to the October to December upwards move, as illustrated by the two vertical arrows.

RSI is cancelling its divergence if closing above the dashed horizontal line and despite being at an extreme value around 84 is indicating AEX could climb a bit higher.
To reverse the trend a close below 816 is needed
Source all charts and data: Saxo Group

BEL20/SWISS20 cfd kept itself above key support at around 3,609 and has now bounced to test the upper falling trendline and seems likely to resuming uptrend.

A break above the falling trend combined with the RSI closing above 60 threshold will pave the road to resistance at around 3,742.

A close below 3,609 will demolish this likely bullish scenario and send BBEL20down to 3,550

CAC40/FRA40 cfd is at the time of writing breaking above the resistance at around 7,654. If closing above there is potential to cancel the Bearish Engulfing top and reversal candle. If that scenario plays out CAC40 could move to 7,800 level.

RSI is still in positive sentiment with no divergence supporting higher Index levels.
A close below 7,553 will demolish and reverse this picture

SMI20 Doji Evening Star top and reversal pattern (circled) still in play with short-term down side potential to support at around 11,057.

However, a close above 11,334 combined with an RSI close above 60 threshold and its upper falling trendline will be a strong indication the top and reversal pattern could be cancelled
SWISS 20 cfd levels: support at around 11,067.
Trend reversal above 11,332
Disclaimer

The Saxo 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 is not intended to and does not change or expand on this. 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 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 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 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 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 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-hk/legal/disclaimer/saxo-disclaimer)

None of the information contained here constitutes an offer to purchase or sell a financial instrument, or to make any investments. Saxo does not take into account your personal investment objectives or financial situation and makes no representation and assumes no liability as to the accuracy or completeness of the information nor for any loss arising from any investment made in reliance of this presentation. Any opinions made are subject to change and may be personal to the author. These may not necessarily reflect the opinion of Saxo or its affiliates.

Saxo Capital Markets HK Limited
19th Floor
Shanghai Commercial Bank Tower
12 Queen’s Road Central
Hong Kong

Contact Saxo

Select region

Hong Kong S.A.R
Hong Kong S.A.R

Saxo Capital Markets HK Limited (“Saxo”) is a company authorised and regulated by the Securities and Futures Commission of Hong Kong. Saxo holds a Type 1 Regulated Activity (Dealing in Securities); Type 2 Regulated Activity (Dealing in Futures Contract); Type 3 Regulated Activity (Leveraged Foreign Exchange Trading); Type 4 Regulated Activity (Advising on Securities) and Type 9 Regulated Activity (Asset Management) licenses (CE No. AVD061). Registered address: 19th Floor, Shanghai Commercial Bank Tower, 12 Queen’s Road Central, Hong Kong.

Trading in financial instruments carries various risks, and is not suitable for all investors. Please seek expert advice, and always ensure that you fully understand these risks before trading. Trading in leveraged products may result in your losses exceeding your initial deposits. Saxo does not provide financial advice, any information available on this website is ‘general’ in nature and for informational purposes only. Saxo does not take into account an individual’s needs, objectives or financial situation. Please click here to view the relevant risk disclosure statements.

The Saxo trading platform has received numerous awards and recognition. For details of these awards and information on awards visit www.home.saxo/en-hk/about-us/awards.

The information or the products and services referred to on this site may be accessed worldwide, however is only intended for distribution to and use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. Products and services offered on this website are not directed at, or intended for distribution to or use by, any person or entity residing in the United States and Japan. Please click here to view our full disclaimer.

Apple, iPad and iPhone are trademarks of Apple Inc., registered in the US and other countries. AppStore is a service mark of Apple Inc. Android is a trademark of Google Inc.