Morning Briefing Global Stocks

Morning Briefing Global Stocks

Morning Briefing Global Stocks

$DIA, $DAX, $DJSH, $N300, $NSEI

DJIA at 22381.20, +0.18% is stable above 22200, and while that holds, some chances of a rise to 22400 or higher may happen. A clear break below 22200 could push it to 22000, or a rise above 22400 could drive it to 22600 near term. 50/50 chances for either direction is possible now with slight bias for the up-move.

DAX at 12704.65, +0.37% broke above 12675 contrary to expectation of a rejection at these marks. While above 12675-12700, DAX could move up to 12900-12951. Also Key resistance is at 12800, which if holds could prevent a further rise towards 12900 and push DAX back to 12700-12600 near term.

Nikkei 20294.11, -0.34% is ranged within 20500-20200, and is unable to decide direction for now, If USD/JPY remains below 113.30 and moves lower towards 112, Nikkei could come down too, or see some more sideways consolidation until there is clarity on direction near term.

Shanghai 3349.33, +0.29% may stay within 3360-3325 for now. No major movement expected in here.

Nifty 9768.95, +0.34% bounced Thursday from 9687, in line with expectation of a pause near 9680/85. Nifty is expected to remain in this mode Friday, and could move to 9850, a mark near 9680 is not expected to break yet.

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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