9 October 2020 (8:06 am IST)
8 October 2020 (10:35 pm EDT)
World stock markets are showing positive numbers in all markets in the Asia session. This week had stared with positive numbers, and at hour, it looks like we’ll have a positive closing of the week too.
US stock markets traded in a narrow range in their overnight session but stayed positive. US stock futures are already trading with good gains in Asia session on stimulus hopes.
Yesterday, we had discussed the daily technical charts of Dow Jones and Nasdaq, that how they are trading in a minor uptrend along with a rising trend line. That trend line is still intact and traders who had taken long positions on the basis of daily chart, must have reaped hefty gains.
At the time of writing, major Asian stock markets are trading positive. SGX Nifty is 40 points up, showing that Indian stock markets will have another gap up opening. US and European stock futures are rallying to show that these big markets will continue their minor uptrend in this last session too.
How To Day Trade:
- World stock markets have been climbing up this whole week, except for one dip in the middle of the week.
- The week has brought an steady uptrend in global stocks and in this session too, day traders should use strategies for trading in an uptrend.
- That would be, buying when the price dips, touches the trendline, and bounces up again.
- Do not mistake the dips as a trend reversal. This is a strong global uptrend and only some negative news can change it.
World stock markets are trading positive in Asia session. The European session is also expected to rise, following the uptrend in US stock futures. US stock markets had started this weekly uptrend in world stock markets and those markets are expected to also close the week with positive numbers.