Technical Analyst, Saxo Bank
Summary: Including EU50, GER40, NETH25, BELG20, FRA40 and SWISS20 cfd’s
You can get the latest technical picture and trends watching the Daily Technical Update video's
EuroStoxx50/EU50 cfd testing resistance at around 4,210/4,218. A break above could fuel a short rally higher to the upper falling trendline possibly to the 200 Moving Average. Declining 55 and 100 Moving Averages indicating underlying bearish trend and are providing overhead resistance
However, trend is down and Stoxx50/EU50 needs to close above 4,327 to confirm uptrend. If rejected at the resistance level at 4,210/4,218 down trend is likely to resume with a move towards 4,035-3,980 area
DAX bounced from support last week and is close to testing resistance at around 15,483. It is not the strongest resistance but a close above could lead to further rebound to around 15,700-15,750 area.
Around that level the 55 and 100 Moving Averages are coming providing some resistance and underlying bearish trend.
RSI still showing negative sentiment but there is minor divergence supporting the rebound scenario
For DAX to resume uptrend a close above 16K is needed AEX 25 has bounced back above 730 and could move to t4est the key strong resistance at around 750. However, the 55 Moving Average coming down just above where AEX is currently trading will give resistance that could cut short the rebound
RSI is still showing negative sentiment and needs to close above 60 to reverse to positive sentiment and support further upside potential for AEX
If AEX is sliding back below 730 downtrend will resume with a likely move to test 715 -710 levels.
NETH25 in very short-term uptrend with potential to 750 resistance but RSI needs to break above 60 threshold.
55 Moving Average and upper falling trendline will provide resistance. If sliding back below 730 expect AEX to drop to 715-710 level
BEL 20/BELG20 cfd bounced from new lows around 3,450 . Could test 3,579 resistance shortly .
However, all Moving Averages are declining with 21, 55 and 100 the most important ones, they will provide resistance. Strong resistance at around 3,632
If BEL20 is closing below 3,490 expect lower levels below last week’s around 3,445
CAC40 is back above 7K after a couple of days trading just a few cents below. However, strong overhead resistance at around 7,203 and the upper falling trendline plus the declining 55 and 100 Moving Averages will most likely limit the upside potential
If CAC40 is closing below 7,060 downtrend is likely to resume towards 6,885 and 6,795
SMI 20/SWISS20 cfd bounced from support at around 10,750. If closing above 11,075 a move to strong resistance at around 11,400 is in the cards.
If sliding back to close below 10,837 downtrend will resume with a move towards 10,516 The end of the road
Emboldened by surging crude oil prices, Saudi Arabia makes waves on the international stage, as Crown Prince Mohammed bin Salman manages to create a World Champions League, after buying the UEFA Champion League franchise.
As the world embraces GLP-1 obesity wonder drugs, the people next in line to get a prescription stop caring about dieting and exercising, figuring that the drug will later solve all of their weight-related health problems.
With the US budget deficit spiraling above 10% of the GDP, the government is desperate to foster demand for US Treasuries. Under intense pressure from the White House, Congress makes income from government bonds tax-free.
After a criminal group deploys the most deceptive AI deepfake ever seen, generative AI becomes a national security threat. With public distrust soaring, governments crack down with harsh new laws, puncturing the AI hype.
To fix the divergence in the global trade and financial system, the largest deficit countries unite to negotiate new world trade terms. For surplus countries, the reset of the global economic model is a painful adjustment.
As discontent with Biden and Trump rises to fever pitch, Robert F. Kennedy Jr sees his support rising inexorably in the polls. On November 5, Kennedy wins the US presidential election, ushering in a new era in US politics.
Stepping up Japan's economic transformation in 2024, PM Kishida brings in a host of populist policies to boost domestic demand. As the GDP growth rate hits 7%, the BoJ is forced to abandons its yield curve control policy.
As people wake up to how little tax Europe’s billionaires are actually paying, the EU Commission implements a wealth tax of 2%. The tax sends shockwaves through Europe's luxury industry, with luxury giant LVMH plunging 40%.