17 April 2018 (8:23 AM IST)
16 April 2018 (10:54 PM EDT)
U.S. stock markets closed highly positive in there overnight session. However, Asian stock market are trading with a mixed trend, indicating that market volatility is still dominating the intraday trading pattern in world stock markets.
U.S. stock markets continued to make higher lows on technical charts, which is usually a positive signal. Although this positive trend has been very slow, and the current resistance levels are still dominating U.S. stock indexes, technical signals at this time favor a continuous rise in these markets, even if the gains remain restricted.
At the time of writing, U.S. Stock futures are positive, European stock futures are also showing healthy gains, hinting at a range bound trading pattern in these market.
Asian stock markets are trading mixed with some red and some green numbers. SGX Nifty is flat, waiting for Indian stock market to open and decide their intraday Trend.
Global stock market are expected to trade within their individual range on local and technical cues. U.S. Stock Market are waiting for a breakout from their current resistance levels and if an when that happens, a clear trend can emerge in global stock market. Otherwise, the sideways trend will continue to dominate all markets.
Day traders should consult the support and resistance levels of their local index and trade within those levels with the short term trend, which will continue to roam between those levels.