World Stock Markets Today: Negative Start, Rangebound Trend

4 December 2018 (8:42 am IST)

3 December 2018 (10:12 pm EST)

World stock markets have opened with negative numbers in this second session of the week, as markets finally realize the reality of unresolved U.S.-China trade war.

U.S. stock futures are trading with highly negative numbers. European futures are also down considerably. All major Asian stock markets were earlier trading with red numbers but now, China has recovered slightly and turned positive. SGX Nifty is trading slightly negative indicating a similar slightly lower/flat opening in Indian stock markets today.

Although U.S. stock markets had closed with highly positive numbers in their overnight session, on charts major U.S. stock indexes have made a negative candlestick which shows that these indexes closed lower than their opening levels. If U.S. futures continue to trade negative and U.S. stock markets open with a gap down, then it will create a bearish reversal pattern.

As we keep writing, for successful day trading, long term timeframes must be considered. This week & month had started with positive numbers but on charts, it is possible that a bearish reversal pattern starts emerging in different markets.

Day traders should keep an eye one major Moving Averages support and resistance on weekly and monthly charts, and be careful near those levels while day trading.

For intraday trading, daily pivot levels will provide good indications of support and resistance and can be used for understanding the intraday range.

Expect a subdued trend in world stock markets where the intraday can remain choppy and within last week’s trading range.

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