Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Nothing New.PE

DJIA at 26210.81, -0.01% appears stable. I am holding my view of a rise to 26400-26500 in here.

DAX at 13559.60, +0.71% gaped open, and is trading higher. While trading above 13500, there is room to rise to 13750 or even higher now.

Nikkei at 23989.08, -0.56% paused, and could be ranged within 24150-23500 for 2-3 sessions before trying to move up again.

Note: At 24200 is a near term resistance and if that holds, could bring a dip or a sideways consolidation in here.

Shanghai at 3534.29, -0.34% has come off from 3557 due to a fall in Copper prices as inventories surged and could dip to 3525-3500 yet this week.

Note: 3500 is 1st support and could hold in here. On a clear break above 3557 medium term, there is the chance to test at 3600 longer run.

Nifty at 11083.70, +1.07%, and Sensex at 36139.98, +0.96% has been rising for the last few days and it would be difficult to say what the 1st targets are in here. A test of 11200-11400 looks a possible scenario  near term on the Nifty, the Sensex 36500-36700 looks possible. A pause to the rising rally could occur ar the end of the month.

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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