Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

Commentary: Nothing new. PE

DJIA at 21812.09, -0.40% dipped Wednesday, and if it remains below 21900, chances of testing to 21670-21600 cold happen. A medium term Top might have been made near 22179 earlier this month, while that holds, I remain cautious for dips to the Southside.

DAX at 12174.30, -0.45% is trading above weekly support at 11980, which may drive the index to higher  in the coming sessions. A break below 11980 could extend the fall to 11700-11600 in the coming weeks. Watch price action near Key support at 11980 now.

Note: Asia-Pac looks Bearish near term. The stock indices are all set on extending the Sothside correction before attempting on any recovery.

Nikkei at 19408.80, -0.13% while it remains below 19650 the fall could continue towards 19000 near term. This could also lead to a fall in the USD/JPY at 109.16 ahead.

Shanghai at 3283.58, -0.13% could start South, while resistance at 3300 holds. A fall towards 3260/50 looks real for now. Unless a break above 3300 is seen, expect a short fall ahead.

Nifty at 9852.50, +0.89% finished above 9850 Wednesday, but is likely to remain range-bound within 9700-9900 in here. 1st support and resistance marks are seen at 9700-9680 and 9900 respectively. I suggest caution, as the Southside vulnerability is intact while trading below 9900.

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.

You must be logged in to post comments :