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 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 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 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/legal/disclaimer/saxo-disclaimer)
- Full disclaimer (https://www.home.saxo/en-mena/legal/disclaimer/saxo-disclaimer)


Boulevard Plaza, Tower 1, 30th floor, office 3002
Downtown, P.O. Box 33641 Dubai, UAE

Contact Saxo

Select region

UAE
UAE

Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

Saxo Bank A/S is licensed by the Danish Financial Supervisory Authority and operates in the UAE under a representative office license issued by the Central bank of the UAE.

The content and material made available on this website and the linked sites are provided by Saxo Bank A/S. It is the sole responsibility of the recipient to ascertain the terms of and comply with any local laws or regulation to which they are subject.

The UAE Representative Office of Saxo Bank A/S markets the Saxo Bank A/S trading platform and the products offered by Saxo Bank A/S.