Technical Update - AEX25, BEL20 and CAC40 struggling at overhead resistance levels Technical Update - AEX25, BEL20 and CAC40 struggling at overhead resistance levels Technical Update - AEX25, BEL20 and CAC40 struggling at overhead resistance levels

Technical Update - AEX25, BEL20 and CAC40 struggling at overhead resistance levels

Equity 3 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

AEX25 is testing and at the time of writing seems to be rejected at resistance at 653. If AEX manage to close above, there could be more upside to 670-672. But if AEX slides back and closes below 641 bear trend is set to resume.
RSI is still negative and needs to close above 60 to change that. There is still divergence on RSI indicating AEX could move higher in a correction but 653 needs to be broken
If AEX drops back below 641 RSI is likely to break below 40 and its slightly rising trendline which would be a strong indication of new lows on AEX25.

Source: Saxo Group
BEL20 is technically in a short-term uptrend but seems to face some headwind. RSI is till showing negative sentiment and 3,515 is a resistance. If BEL20 can break above 3,515 3,580-3,600 is not unlikely. However, both 100 and 55 SMA is coming down putting a dampener on the upside potential.
If BEL20 closes below 3,440 bear trend is set to resume. There has been no divergence on RSI, and it is still showing negative sentiment. A close above 60 will change that (to positive) and indicate higher levels

Source: Saxo Group

CAC40 closed above resistance at 6,040 but seems to struggle to get further upside momentum. A falling trend line and 55 and 100 SMA are coming down and seem to put a lid on the upside.
RSI is still below 60 testing its lower rising trendline. RSI must break either. If closing above 60 sentiment has changed to positive but if RSI breaks below the rising trend line it will indicate CAC40 could drop back to 5,859-5,794. An RSI close below 40 will indicate further downside.

Source: Saxo Group
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-sg/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 Markets 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 Capital Markets or its affiliates.

Saxo Markets
88 Market Street
CapitaSpring #31-01
Singapore 048948

Contact Saxo

Select region

Singapore
Singapore

Saxo Capital Markets Pte Ltd ('Saxo Markets') is a company authorised and regulated by the Monetary Authority of Singapore (MAS) [Co. Reg. No.: 200601141M ] and is a wholly owned subsidiary of Saxo Bank A/S, headquartered in Denmark. Please refer to our General Business Terms & Risk Warning to consider whether acquiring or continuing to hold financial products is suitable for you, prior to opening an account and investing in a financial product.

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 such as Margin FX products may result in your losses exceeding your initial deposits. Saxo Markets does not provide financial advice, any information available on this website is ‘general’ in nature and for informational purposes only. Saxo Markets does not take into account an individual’s needs, objectives or financial situation.

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

The information or the products and services referred to on this website 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 intended for residents of the United States, Malaysia and Japan. Please click here to view our full disclaimer.

This advertisement has not been reviewed by the Monetary Authority of Singapore.