11 April 2019 (8:00 am IST)
10 April 2019 (10:30 pm EDT)
World Stock markets have started this new session in Asia with a subdued trend.
U.S. stock markets had a flat closing in their overnight session after the Federal Reserve’s meeting minutes revealed that the central bank is ready for rate hikes if the U.S. economy improves.
As a result, all major Asian stock markets are trading negative in early hours. SGX Nifty has been shifting between flat to negative, showing that global weakness could also dominate Indian stock markets.
U.S. stock futures are slightly positive at the time of writing, but European stock futures have turned negative with Asia markets.
Expect world stock markets to trade under pressure and remain volatile. Technical resistance levels had already been stopping markets from going higher, and now the Fed’s futures plans have brought back rate hike worries for global stocks.
Day traders should watch the resistance levels in their local index, especially in the bigger time frames, such as 5 to 1-hour time frames. Seeling near these resistance levels could be a better day trading strategy.