Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: Stocks have resumed their uptrend and could face some interim dips within the overall uptrend. Some clarity is needed in DAX which is trading at Key marks in here. PE

DJIA at 21611.78, -0.13% could move up gradually towards resistance near 21800 in the coming sessions before seeing another dip towards 21600. Near term looks Bullish to me.

DAX at 12447.25, -0.04% holding above near term channel support, while that holds, a bounce could be expected in here. On a clear break below the support at 12400, would shift focus to 12300-12200.

Shanghai at 3237.94, -0.21% has come off after testing resistance at 3250, while that holds, a short dip towards 3220 is possible before resuming the rally to 3260.

Nikkei at 20093.46, -0.25% is ranged within 19900-20200 since the beginning of the month. While USD/JPY trades lower, it will be difficult to see a sharp rise in Nikkei and could possibly see some movement in the 19900-20200 in here. A break below 19900 could initiate some correction medium term.

Nifty at 9873.30, -0.27% may see a sharp correction in here after testing Key resistance at 10000-10050. The correction could take it to 9800-9700 medium term.

Have a terrific weekend.

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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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