Sunday, 17 December 2017
Major global stock markets had a wild, volatile ride last week and the next week promises to start with equal volatility.
On weekly basis, U.S. markets closed with massive gains. Major U.S. indexes had a positive closing both for the day and week last Friday. Although European markets did not perform so good on weekly basis and except for U.K.’s FTSE 100, other major European indexes closed the week with red numbers.
In Asia, China markets ended the week negative while India markets had a positive closing.
Political events are expected to take centre stage next week in global markets. India markets will open with state assembly election results from Gujarat, as important for Indian politics as was Alabama for U.S.
European markets are expected to continue trading in mixed pattern. U.S. markets will keep a weary eye on political tussle between President Trump and Special Counsel Robert Mueller. Till Saturday, there were strong rumors that Trump was about to fire Mueller and social media was abuzz with pro and anti-Mueller campaigns.
So, be ready for another choppy week in global stock markets. To get ready for this choppiness, traders should study various support and resistance levels and prepare their trading strategy as markets usually make big moves near these levels.
You can check weekly pivot levels for major European indexes here ( DAX, CAC 40, FTSE 100).
Just a few hours more and Asia session will start.
Till then, prepare your charts and get ready for some another action packed week in world stock markets.