Market analysis from Saxo

Saxo Broker

Cineworld Group Short Term - We look to Sell a break of 25.37 (stop at 28.52) Trades with a bearish descending triangle formation. A move through 25.50 will confirm the bearish momentum. The bias is still for lower levels and we look for any gains to be limited. Trading has been mixed and volatile. Our profit targets will be 17.68 and 15.10 Resistance:...

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S4 Capital Short Term - We look to Sell at 292 (stop at 314) We look to sell rallies. Broken out of the channel formation to the downside. The medium term bias remains bearish. There is scope for mild buying at the open but gains should be limited. Our profit targets will be 223 and 210 Resistance: 290 / 350 / 500 Support: 250 / 200 / 150 Disclaimer –...

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Ethereum Intraday - We look to Buy a break of 2481 (stop at 2414) Short term momentum is bullish. A break of the recent high at 2480 should result in a further move higher. We are trading at oversold extremes. Our profit targets will be 2648 and 2698 Resistance: 2480 / 2580 / 2700 Support: 2400 / 2300 / 2200 Disclaimer – Saxo Bank Group. Please be...

Saxo Broker

Virgin Galactic Holdings Short Term - We look to Sell at 7.33 (stop at 8.19) Preferred trade is to sell into rallies. Broken out of the channel formation to the downside. Mixed and choppy price action resulted in the early move lower being sustained and prices closing lower. Our overall sentiment remains bearish looking for lower levels. Our profit targets...

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Exxon Mobile Short Term - We look to Buy at 81.80 (stop at 79.22) Preferred trade is to buy on dips. The medium term bias remains bullish. Trading has been mixed and volatile. We are assessed to be in a corrective mode lower. Our profit targets will be 87.06 and 89.10 Resistance: 90.00 / 100.00 / 110.00 Support: 82.00 / 75.00 / 70.00 Disclaimer – Saxo...

Saxo Broker

Bitcoin Intraday - We look to Buy a break of 33861 (stop at 33248) We are trading at oversold extremes. A break of the recent high at 33800 should result in a further move higher. We look for a temporary move higher. Our profit targets will be 35464 and 35964 Resistance: 33800 / 35000 / 36000 Support: 33000 / 31000 / 30000 Disclaimer – Saxo Bank Group....

Saxo Broker

ArcelorMittal Short Term - We look to Buy at 23.74 (stop at 22.81) Preferred trade is to buy on dips. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Previous support located at 24.00. Expect trading to remain mixed and volatile. Our profit targets will be 25.77 and 26.28 Resistance: 26.00 / 28.00 /...

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Lufthansa Short Term - We look to Sell a break of 6.70 (stop at 6.95) Posted a Double Top formation. We expect an initial move higher to fail and look to set shorts on a break back through 6.80. Further downside is expected and we prefer to set shorts in early trade. The bias is still for lower levels and we look for any gains to be limited. Our profit...

Saxo Broker

Ethereum Intraday - We look to Sell a break of 2649 (stop at 2701) There is no indication that the selloff is coming to an end. A break of the recent low at 2658 should result in a further move lower. Short term momentum is bearish. Our profit targets will be 2511 and 2461 Resistance: 2700 / 2750 / 2800 Support: 2660 / 2600 / 2500 Disclaimer – Saxo...

Saxo Broker

AB Inbev Short Term - We look to Sell a break of 52.48 (stop at 54.15) Further downside is expected and we prefer to set shorts in early trade. A break of bespoke support at 53.00, and the move lower is already underway. We look for losses to be extended today. Expect trading to remain mixed and volatile. Our profit targets will be 48.86 and 47.38...

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Snap Short Term - We look to Sell a break of 26.32 (stop at 29.92) Trades with a bearish descending triangle formation. We look to set shorts in early trade for a further test of the fragile looking support. The bias is still for lower levels and we look for any gains to be limited. The medium term bias remains bearish. Our profit targets will be 18.18...

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Litecoin Intraday - We look to Buy at 103.15 (stop at 100.74) We look to buy dips. Previous support located at 103.00. Short term oscillators have turned positive. Broken out of the channel formation to the upside. Our profit targets will be 108.59 and 111.01 Resistance: 107.00 / 115.00 / 120.00 Support: 103.00 / 100.00 / 97.00 Disclaimer – Saxo Bank...

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Rolls Royce Short Term - We look to Sell a break of 81.96 (stop at 86.87) Bias is mildly bearish today but we need to see a break of 81.96 to confirm the downward pressure. The medium term bias remains bearish. The bias is still for lower levels and we look for any gains to be limited. We look for losses to be extended today. Our profit targets will be...

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Postnl Short Term - We look to Sell at 3.32 (stop at 3.44) Preferred trade is to sell into rallies. 20 1day EMA is at 3.27. Previous resistance located at 3.30. We have a 38.2% Fibonacci pullback level of 3.30 from 3.80 to 2.99. Our profit targets will be 2.99 and 2.87 Resistance: 3.30 / 3.50 / 4.00 Support: 3.00 / 2.90 / 2.50 Disclaimer – Saxo Bank...

Saxo Broker

Bitcoin Intraday - We look to Buy a break of 39171 (stop at 38588) 37500 continues to hold back the bears. 39153 has been pivotal. A break of the recent high at 39165 should result in a further move higher. Our profit targets will be 40688 and 41188 Resistance: 39150 / 39800 / 40400 Support: 38500 / 38200 / 37700 Disclaimer – Saxo Bank Group. Please be...

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Axa Short Term - We look to Sell at 25.34 (stop at 26.01) Levels close to the 78.6% pullback level of 27.36 found sellers. Further downside is expected and we prefer to set shorts in early trade. The move higher is mixed and volatile, common in corrective sequences. The bias is still for lower levels and we look for any gains to be limited. Our profit...

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Valneva Short Term - We look to Sell a break of 11.58 (stop at 12.61) A break of bespoke support at 11.80, and the move lower is already underway. Current prices have reacted from a low of 11.70, however, we expect further losses to follow. The failure to sustain the break higher and subsequent dip, formed a bearish candle and is negative for short term...

Saxo Broker

Apple Short Term - We look to Buy at 158.00 (stop at 153.00) Posted a Bullish Hammer Bottom on the 4 hour chart. Price action has continued to range within a rectangle formation. Further upside is expected and we look to set longs in early trade. Previous resistance located at 169.50. Our profit targets will be 168.00 and 178.00 Resistance: 169.50 / 172.00...