Technical Update - AEX 25 and CAC 40 in confirmed down trends. BEL20 broken out of its range Technical Update - AEX 25 and CAC 40 in confirmed down trends. BEL20 broken out of its range Technical Update - AEX 25 and CAC 40 in confirmed down trends. BEL20 broken out of its range

Technical Update - AEX 25 and CAC 40 in confirmed down trends. BEL20 broken out of its range

Equities 3 minutes to read
Kim Cramer Larsson

Technical Analyst, Saxo Bank

AEX 25 opened Monday morning spot on the 0.382 retracement and support at 696. RSI is testing 40 threshold and a close below confirms the downtrend.
Next support for AEX is at 671 which is also the 0.618 retracement. To reverse the down trend a close above 736 is needed. A close above 723 is likely to just put the Index in neutral.

Source: Saxo Group

BEL20 broke below its short term rising trend line now trading below June/July lows. March low at around 3,567 is likely to be tested.
RSI is below 40 supporting the negative outlook and lower levels. To put BEL20 back in neutral a close above 3,765 is needed.

Source: Saxo Group

CAC 40 is in a confirmed downtrend likely to trend lower. Some support at around 6,100. If CAC 40 can close the gap from this morning a minor bounce is likely to be seen. However, it will be a struggle to close it and for CAC 40 to reverse the current down trend a close above 6,450 is needed.
If RSI closes below 40 it further underlines the downtrend.  A trend that can take CAC to test July lows.

Source: Saxo Group

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