Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks


Commentary: DJIA near term looks Bearish.PE

DJIA at 24024.13, -1.74% fell sharply Tuesday contrary to my expectation of moving up from 1st support at 24300. Now, a fall to 23500-23200 is possible this week. Near term looks Bearish to me.

DAX at 12550.82, -0.17% is down a bit, while the resistance at 12650 is holding well in here. A clear break above 12650 could see DAX higher medium term to 12800, barring that a fall to 12400 and lower is possible. Strong medium term resistance at 12650 would be hard to crack now.

Nikkei at 22134.17, -0.65% dipped, and while the resistance at 22600 holds a fall to 21400 looks possible. While the index trades below 22600, the index looks Bearish to be.

Shanghai at 3115.70, -0.420 has come off , but there is buying stacked up 3050, while 3150 holds Shanghai could stay ranged within 3050-3150 trading sideways into next week. Near term is neutral.

Nifty at 10614.35, +0.28% closed above 10600 Tuesday but might not hold for long. Sticking to Bearish view to 10450-10400 ahead.

Stay tuned…

The following two tabs change content below.

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.

Latest posts by Paul Ebeling (see all)

You must be logged in to post comments :