31 Dec, 2015 (8:57AM IST)
Dec 30, 2015, (10:28pm EST)
Crude Oil futures have become strictly range bound, creating a similar volatile and alternate up and down session in U.S. and European markets.
After falling yesterday, Crude Oil futures are trading positive in early hours in Asia. U.S. stock futures are also tracing this pattern with slightly green numbers.
Asian markets are trading mixed in a narrow range. SGX Nifty is flat, signaling a same range bound pattern in Indian markets today.
Expect global markets to trade within their weekly range and be highly volatile as we have seen in last few sessions. Traders should watch support and resistance levels for buying at low and selling at high opportunities. If any index falls below previous low then that will indicate more losses and a negative trend.
If Crude continues to pick up gains, then European markets could trade positive too. In that case other markets could also follow that trading pattern.
Good luck, enjoy the session!