World Stock Market Today: Range bound Trend After the ECB Meeting

10 September, 2021 (8:07 am IST)

9 September, 2021 (10:37 pm EDT)

First, three secrets of success:

  1. Work hard,
  2. Work harder,
  3. Work hardest 🙂

Now to the world of stock markets.

World stock markets are trading positive today, after the European Central Bank (ECB) kept its interest rates unchanged, but slowed down its rate of asset purchase. The ECB’s short-term monetary policy created fluctuations in the currency and stock markets but now, stock markets have returned to their range bound trade.  

US Stock Markets closed negative in their overnight session, but today, in Asia session, US stock futures are trading positive.

All major Asian stock markets are also trading positive.

SGX Nifty is 32 points up. indicating a positive opening in the Indian stock market.

Just like yesterday, global stock markets are trading in a single trend, but today we can expect world stock markets to trade positive and range found.

How To Day Trade Today:

  1. Day traders can expect stock markets to trade between important weekly support and resistance levels.
  2. As we keep writing, the inherent trend in global stocks is positive.
  3. So, day traders would do well by buying near support levels.
  4. But selling near resistance levels may not be as effective as that.
  5. Watch your local market’s important support and resistance levels and trade with the minor trend within those levels.
  6. The trend since last week has become restricted in specific trading ranges, and we will advise day traders to follow ‘buy on the dip’ strategy for intraday profit.

Global stock markets are  trading positive in this session, after the ECB meeting is over and no big announcement came off from that meeting. The bigger trend is also positive, so we can expect a positive intraday trend in all major stock markets. Day traders should follow this trend within the weekly trading range limits.

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