After the strong decline in recent weeks, stock market indicator AEX is trying to find a floor around 538 points. Technical analysts are divided as to whether this will succeed.
Nico Bakker reports that there is a brave battle of the AEX around the 540/538 zone.
“After hefty beats in the opening phase in recent days, the bulls manage to admonish themselves quickly and ensure that white candles eventually appear. A volatile recovery is possible, possibly up to 545 or even 555 points. But are those the last bullies of the bull? The bulls are hanging on a thread on the weekly card. Now a white candle is being made, which is an absolute prerequisite for averting a falling trend phase. It is now a matter of being on or under for the bulls with 534 as a crucial safety net. All in all a brave struggle for survival. ”
Royce Tostrams observes that the AEX is damaging the support well. “The index has already jumped a few times from 538.7 points. I think a recovery is possible in the next few days, partly because some funds have fallen very fast. ING and ArcelorMittal, among others, could take a ride up. ”
He does not venture a forecast for the AEX in the coming weeks. ”
The development depends on one person, namely Trump.”
Bas Heijink is by far the most negative. He states that the neckline was broken downwards last week at 543.60 points of a head-shoulder pattern. As a result, according to him, a powerful downward continuation can be deployed. He believes that there is a good chance that the AEX will be on its way to the bottom of mid-March at 529.70 points this week. A further downward acceleration to 515 points may occur under the support.
