30 Jan, 2015 (9:17AM IST)
Jan 29, 2015, (10:47pm EST)
Today, it’s the “crude prices entertainment” in global markets 🙂
Right now, global markets are trading in two groups, based on crude oil prices.
One group is that of developed nations like U.S. and European markets that face worries of deflation on falling crude.
The other groups is that of developing nations like India that benefit by falling crude in lower inflation.
Yesterday, Indian markets rallied as crude fell in the early session in global markets and when crude prices recovered, U.S. markets rallied back from their support levels.
At this time, crude prices are again hovering near the lower end of their current, smaller range between $44.60-44.50, making U.S. stock futures negative and SGX Nifty positive.
Traders should watch the crude oil prices, observe how their local markets react to it and then trade with that trend.
That’s the biggest cue to intraday trading today. Follow it and trade safely.
Enjoy the show, game and drama in markets today 🙂
See you later.