Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Nothing new.PE

DJIA at 24651.74, +0.58% could spend a few sessions sideways before moving up to 24800 or higher. Near term looks Bullish to me.

DAX at 13103.56, +0.27% rose from 13000, but while below 13150, chances of a fall again to 12900 remains. A clear break above 13150 is needed to trigger a move higher.

Nikkei at 22820.81, +1.19%; the resistance at 23000 has not been able to push the index below 22000. While Nikkei is trying to re-test 23000 it could again come off to 22600 again.

Note: Continuous testing of 23000 may give way on the Northside for the longer term, strengthening the Bulls to 23200-23400 long term.

Shanghai at 3263.75, -0.07% heads to 3250, and is likely to move to lower in the coming sessions. 3250-3230 is the target near term.

Nifty at 10333.25, +0.79% made an intra-day high at 10350 before closing lower Friday. With the Gujarat Election results, the Nifty is likely to move up further if the BJP wins. A test of 10400-10450 seems likely.

Note: 1st resistance is seen at 10500.

Sensex at 33462.97, +0.65% seeing 1st resistance near 33750, but may move up Monday to 34000

Have a terrific week

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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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