15 May 2019 (8:50 am IST)
14 May 2019 (11:21 pm EDT)
After U.S. stock markets rallied in their overnight session, U.S. Stock futures are still trading with slightly positive numbers in Asia session.
This has triggered some positivity in world stock markets and major Asian stock markets are trading mostly with green numbers at the time of writing.
SGX Nifty is flat, waiting for Indian stock markets to open and take a trend after yesterday’s positive session.
European and U.S. Stock futures are trading with mild gains at this hour, indicating a mostly range bound trading pattern in those bigger markets.
Stock markets trading in such conditions will follow range-bound trading rules. Watch support and resistance levels and follow the short-term trend within those levels. If any index falls below the previous low mark and keeps trading below that mark, then it will be in a downtrend.
However, if any index trades above its previous high level and sustains above that mark then it will be in an uptrend.
Today, global stocks are expected to trade between the high and low of the last two sessions of this week. Day traders should watch the intraday trading range and follow the trend line whether it goes up or down.