12 September 2019 (8:36 am IST)
11 September 2019 (11:02 pm EDT)
US stock markets rallied in their overnight session and world stock markets are rallying in Asia after the US delayed tariff on some China goods for two weeks “as a goodwill gesture.”
At this hour, all major Asian stock markets are trading high with good gains. SGX Nifty is also up by nearly 40 points. US and European stock futures are continuing their previous rallies.
It is a positive start of the session for global stocks. The trend will depend on US stock futures through the session. As we wrote previously, major US indexes are near their all-time high levels and need just one push to break out of their monthly range restrictions. Most probably, the central bank stimulus and new goodwill between the US and China will provide that boost to US stock markets and global stocks will follow that trend.
For intraday trading, day traders should watch the important support and resistance levels and trade with the trend within those levels. A higher start could turn sideways later in the session.