13 February 2019 (9:13am IST)
12 February 2019 (10:43pm EST)
After an overnight rally in U.S. stock markets, world stock markets have started this session with mostly positive numbers in Asia.
However, the trend is expected to remain mixed ad volatile as various markets are following their local and technical cues more, instead of any clear global trend.
At the time of writing, U.S. stock futures and trading positive, carrying forward their previous session’s rally. Major Asian stock markets are trading mixed, and Indian stock markets have opened with a gap up after declining in last few sessions.
Day traders should continue to monitor support and resistance levels of their local index and trade within those levels with the short term trend. Global stocks are trading in a broad range and within that range, the show term trend keeps fluctuating. That is why support and resistance levels can provide good indications of trend development.
Market volatility is also expected to remain high, another feature of rangebound trend.