Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: Nothing New. PE

DJIA at 23439.70, +0.07% sees near term support at 23320 and has some chances of moving up from here to 23500 and higher. A break below 23320 will take it lower to 22800 near term.

DAX at 13074.42, -0.04% moved to support at 12900-13000, and bounced sharply from the intra-day low of 12960.

Note: 12900 is likely to act as 1st support, while that holds, DAX may either trade sideways above 12900 or rise to 13200 and higher.

Nikkei at 22441.24, +0.27% formed near term Top at 23382, it does not seem likely that the index will get back to those marks in the coming sessions. Rather, expect a test to 22170 near term followed by a small rise.

Shanghai at 3437.97, -0.29% came off after testing at 3450. While 3450 holds, a Southside test of 3440-3420 is possible, or if the rise sustains above 3450 may target 3500 medium term.

Nifty at 10224.95, -0.94% has been falling in line with expectations, and while the fall continues, the index may test to 10125-10100 in the coming sessions.

Note: 10100 is major support and could produce a bounce taking the Nifty back to 10200-10250 medium term. Near term looks Bearish to me.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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