Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: Still see more Northside coming for DJIA after a pause to refresh. PE

Note: A pause in the momentum indicates that the DJIA may see a dip in here.

DJIA at 24664.89, -0.34% is currently trading near important marks, it is important to see if DJIA comes off from 25000 or manages to move up in here. A rejection at 25000 the Key resistance looks likely with a possibility of testing to 24250.

DAX at 12567.42, -0.19% paused at resistance near 12600. Being an important mark, a break or dip here will determine the direction. So, while 12600 holds, DAX could test to 12400-12200, or a rise above 12600 could trigger a medium term move North.

Nikkei at 22222.13, +0.14% seeing Key resistance at 22500-22550 which could push it to 21800-21600 in here. If we see that action in Nikkei it limits the North for USD/JPY to 107.63 now.

Shanghai at 3091.35, -0.83% moved up from 3050 and is trading just below 3100-3150. While these marks prove resistance, Shanghai looks Bearish medium term. A clear break above 3150 signals some Northside action into next week.

Nifty at 10565.30, +0.37% has not been able to close above Key resistance ar 10600, while that holds, a move back to  10400 looks likely to me.

Sensex  at 34427.29, +0.28% loos to me to have made a near term top and could now pull back to 34000 or lower soon.

Have a terrific weekend.

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