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SUMMARY:
European stocks reversed earlier losses to close
higher Wednesday, with worries about an economic slowdown in China
offset by a strong open on Wall Street. France's CAC 40 was up by
13.76 points to 4,554.92 and Germany's DAX 30 gain 32.48 points to
10,048.05. FTSE 100 also managed to close at 6,083.31 with net gain
of 24.77. US stocks ended higher on Wednesday, rebounding from two
days of losses. The Dow Jones 30 gain 293.03 points to 16,351.38,
while the S&P 500 and the Nasdaq 100 also gain 35.01 and 113.90
points to 1,948.86 and 4265.23 respectively. Asian markets traded on
mix today. Japan’s Nikkei 225 which is only index traded on green
note and up by 148.23 points to 18,243.63. Other Asian index like
Hong Kong’s Hang Seng 50 Index is off today and Australia’s
S&P/ASX 200 closed at negative note.
|
Index
|
Value
|
Net Change
|
|
16,351.38
|
+293.03
|
|
|
1,948.86
|
+35.01
|
|
|
4256.23
|
+113.9
|
|
|
10,048.05
|
+32.48
|
|
|
FTSE100
|
6,083.31
|
+24.77
|
|
4,554.92
|
+13.76
|
|
|
Nikkei225
|
18,243.63
|
+148.23
|
|
5,041.50
|
-59.96
|
|
|
Hang Seng50
|
20,934.94
|
0.00
|
Major trend of Dow Jones
30 is bearish on daily charts. It has given upside recovery in last
week trading session. It is again showing good recovery from lower
level. It is likely to give northward movement in upcoming session
as it has give closing below 50 DMA and trading with resistance of
200 DMA on hourly chart. On lower side it has support level of
16100. If it manages to sustain above 50 DMA and gives break out
above 200 DMA then it would bring a strong confidence to reach 16700.
Currently it is having resistance of 16400.
INDICATOR:-
RSI is about to cross up the 50 mark on hourly chart
time frame. On ADX is likely to move up with strong accumulation on
chart. ADX trading above 35 mark. If it sustain above the same then
index would come in positive territory with positive DI has crossed
up negative DI .
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