Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: Nothing New. PE

DJIA at 21478.17, -0.01% has not been able to move above 21570 lately, but the Bears at resistance near 21500/600 do not look strong enough to push the index lower. So, while DJIA holds above 21400, Northside possibility is high.

DAX at 12453.68, +0.13% is bouncing from marks near 12300. The interim support turned resistance at 12500 is important for now and while the index trades below 12500, could see more rejection after the pause to refresh phase, which could last into next week.

Shanghai at 3208.66, +0.05% bounced sharply and closed above 3200, breaking the sideways movement within 3200-3170. A rise towards 3220 is possible before a dip. Overall medium term looks Bullish to 3250.

Nikkei at 20027.42, -0.27% is testing 1st support at 19980 and if that holds, could then see a rise to 20250 in the next 2 sessions.

Nifty at 9637.60, +0.25% was stable Wednesday, trading above 9600, and my target of 9700 could be tested soon. A few sessions of sideways consolidation is possible before resumption of the rally. Near term looks Bullish in here.

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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