Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Global stock indices see more Northside in the coming sessions after trading lower to sideways for sometime. PE

DJIA at 24408, +1.79% rose sharply to close on the highs. Sideways consolidation is likely to continue for some more sessions with a possible test to 1st support at 23832 . Near term looks Bearish while trading within 23500-24500.

DAX at 12397.32, +1.11% is stable near 12400. We need to watch price action near major resistance at 12500. While 12500 holds, DAX can move South here.

Nikkei at 21750.43, -0.20% is stable in here. A clear break above 21800 is needed to drive the index higher near term, or a fall from here could take it to 21500-21400.

Shanghai at 3206.64, +0.51% showed strength and move against my expectation. The index moved above 3200, and if the momentum continues, it could move to 3250 and higher now. Near term looks Bullish while trading above 3200 to me.

Nifty 10402.25, +0.22%, and Sensex 33880.25, +0.27% are trading below resistances at 10500 and 34000 respectively. While these marks hold, they each could see a short dip before rising again, or a clear break above 10500 and 34000 respectively could trigger a move North near term.

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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