Morning Briefing Global Stocks
$DIA, $DAX, $DJSH, $N300, $NSEI
Commentary: Again, most indices gained contrary to the expectations of many analysts (not me), but could soon test resistance, and fade a bit. PE
DJIA at 22641.67, +0.37% has been moving up ignoring all political and recognizing economic growth factors. New highs this week could enable The Trump Rally extension towards 22750 or higher to 23000 near term. Bullishness for the coming sessions intact, rejection from 22750 may be negated if the Northside momentum remains strong.
Note: Weakness in EUR supporting DAX in here.
DAX at 12902.65, +0.58% is not far from the 13000 high seen in June 2017 and if a rejection fails at 13000, we could see new highs ahead. Near to medium term looks Bullish in case Key resistance 13000 fails to hold.
Shanghai at 3348.94, +0.28% is stable for now and is possibly in a sideways consolidation acting as a base building for a sharp upmove soon. While trading above 3330, Shanghai could set up for a rise to 3375-3400 medium term. Seeing the Southside limited to 3325 now.
Nikkei at 20659.12, +0.22% could test 1st resistance just above current marks and if they hold, could see some correction, or else a test of the Key resistance near 21000 may occur in the coming sessions.
Nifty at 9859.50, +0.72% may test at 9900-9950 in the coming sessions before coming off to 9800 or lower medium term.