Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Nothing new. PE

DJIA at 23932.76, -2.34% came off sharply Friday after seeing a 2-day bounce from near 23500. Overall the trade region is narrowing within 24300-23300 and DJIA will soon break on either giving us more clarity about direction medium term.

DAX at 12241.27, -0.52% is trading at 1st resistance seen on the daily candles. While the resistance at 12300 holds, the DAX is likely to come off to 12000-11800 in the coming sessions. A break above 12300, if seen would drive the DAX to 12500 and higher medium term. Watch price action here.

Nikkei at 21588.03, +0.10% has resistance near 21800, if that holds, it could push Nikkei to 21000 or lower medium term. A sustained rise above 21800 will indicate Bullishness, but while USD/JPY looks Bearish, a rise in Nikkei is not on the cards.

Shanghai at 3126.66, -0.14% is trading at Key marks now. The index has support at 3100 on the candle, the 3-Day line shows that the price has broken below the immediate support and may look Bearish for now with a possible target to 3000.

Nifty at 10331.60, +0.06% has some support at 10100 and may keep the index higher now. A rise is possible to 10400-10500 in the next 3 sessions.

Sensex at 33626.97, +0.09% has to break above 34000 for some medium term Bullishness. While trading below 34000 the price may continue to trade sideways/neutral.

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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