Surprisingly, the Shanghai (2945.05, +0.51%) is up for the third day today, knocking on heaven’s door, its range resistance at 2950. Will it manage to break higher (for which some positive news on the US-China trade war front might be needed), or will it also succumb to overall weakness? India, which was supposed to outperform China, is currently underperforming, which is a surprise.
The Nikkei (20,624.68, -0.48, 0.00%) trades flat below its range resistance at 20800. Might dip while that continues to hold. But, a rise past 20800 (if seen) could be quite bullish for a rally towards 21400. We note also that 20173-110 qualifies as a good long-term Support.
The DAX (11910.86, -42.92) dipped yesterday, but has crucial intra-week Support in the 11850-780 region for this week. It will be interesting to see if this Support holds this week and produces a rally next week.
Although the Dow (26118.02, -285.26, -1.08%) saw a good dip yesterday, ostensibly on the back of the contraction in ISM Manufacturing index, it has a crucial Support coming up near 25750 on the 3-day Candles, which could hold this week. Whether that will produce a credible rally next week, or we will see a meltdown break below 25750-25500-25250 next week will have to be seen.


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