08 January 2020, (8:16 am IST)
07 January 2020, (9:46 pm EST)
Iran has fired multiple missiles at the Iraqi bases that house US troops, in retaliation to the earlier US drone attacks that had killed a high ranking Iranian general.
As a result, world stocks have fallen with big numbers and oil and gold futures have surged again.
At the time of writing, all major Asian stock markets are trading with deep losses. US and European stock futures are also showing deep cuts at this hour. SGX Nifty is 100 points down, indicating a highly negative opening in the Indian stock markets today.
This downtrend in global stocks in event-based so day traders should trade with the trend and not attempt for any counter-trend strategies.
This negative trend will last as long as the tensions in the Middle East region do not cool down. So, wait for any bounce in your markets and sell it. That’s all we can do in these market conditions.