11 June 2019 (8:48 am IST)
10 June 2019 (11:19 pm EDT)
World stock markets have started another session of this week with their positive numbers all around.
But the bigger markets have started turning highly volatile and day traders should be cautious about this choppiness in these markets.
U.S. stock markets closed positive in their overnight session, but the candlestick chart is showing a negative “top hammer” candlestick which usually indicates a trend reversal. This weakness has come in U.S. stocks as President Trump delivered another tariff threat to China.
Asian stock markets have ignored this weakness in US stocks and trading positive at this hour. SGX Nifty is also slightly positive indicating range bound trading pattern in Indian stock markets.
U.S. and European stock futures are trading with green numbers, indicating that these markets will also trade positive but within previous day’s range.
Expect world stock markets to trade with choppiness, with a positive bias. The intraday trend may be mixed in different markets and now the uptrend seems to be slowing down and turning into a sideways trend.
Day traders should watch the trend in their local main index and trade accordingly within support and resistance level.