Technical Analyst, Saxo Bank
Summary: With lower open today SMI and Swiss20 down trend seems to be accelerating. Medium-term trend reversal draws a picture of SMI could re-visit 10K. 10,659 is key
SMI down trend is further confirmed today with the break below minor support at 10,994 and RSI below 40 threshold. If that is also the picture at market close today there is further downside in the cards for SMI. No strong support until around 10,640. To reverse the short-term bearish trend a close above 11,334 is needed.
SWISS20 cfd levels. Support area around 10,648-10,595. A close above 11,332 to reverse downtrend . A close above could be first indication of that scenario to play out.
Also medium-term SMI seems to have resumed downtrend. Rising trend line broken and RSI in negative sentiment rejected at 60 threshold. If SMI closes a weekly below 200 weekly Moving Average and RSI closes below 40 the Index is likely to push towards 2022 lows around 10K. Support at around 10,640 will be key.
For SMI to reverse the medium-term bearish trend a close above 10,454 is needed.
A new fragmented world order can render some of today's infrastructure obselete, but it also calls for massive new investments across the globe, which requires a new set of strategic and tactical investment strategies.
Steen Jakobsen,
Chief Investment Officer
As globalisation turns to fragmentation, China seems set on playing a role in the global economy, while simultaneously working towards proofing its own economic situation from external shocks and crises.
Redmond Wong,
Market Strategist
The recent bank runs and ensuing challenges are reminicent of something we've seen before. Will it end like the S&L crises of 1986 and 1995?
Chris Dembik,
Head of Macroeconomic Research
Equity markets need to recalibrate to another - fragmented - global world. What's your view on equities in this market - are they going up or down?
Peter Garnry,
Head of Equity Strategy
With every development comes new opportunites, some of which could be in India. Have you considered the country as a part of your diversification strategy?
Charu Chanana,
Market Strategist
A collar is an option strategy that allows some protection while maintaining some upside potential. What investment would you like to use a collar strategy for?
Hans Oudshoorn,
Trainer Academy
There are arguments to be made for many commodities to have upside. Which are you paying the most attention to this quarter?
Ole S. Hansen,
Head of Commodity Strategy
In a very challenging macro environment, which currencies do you think will come out on top?
John J. Hardy,
Head of FX Strategy