Suryaa Business Desk: Technical trading pattern continues amid volatility in global equity markets. Along with leading Wall Street indices, Asia and... Technical trading pattern continues amid volatility in global equity markets. The latest market analysis reveals that Asian and European markets are moving between key support and resistance zones along with leading Wall Street indices. Technical experts are closely monitoring market movements amid uncertainty over central banks' monetary policies, interest rates and quarterly results from corporate giants.
The stress in technology stocks in particular is having a clear impact on global benchmark indices. In US markets, Nasdaq and S&P 500 futures technical indices are on the verge of testing key moving average levels, reports suggest. Analysts believe that despite short-term selling pressure, long-term trend lines provide adequate protection for the market. On the other hand, in Asian markets, the Nikkei and Hong Kong indices are facing volatility and are trying to stand up, supported by local buying. In the international currency markets, movements in the US dollar index and rise in crude oil prices are having a serious impact on technical traders.
Market experts warn that investors are turning to safer investments amid rising inflation fears and geopolitical developments. Further market direction is expected to depend on global indices retaining their technical support levels in the coming trading sessions. In this context, market sources believe that technical indicators are likely to give new signals depending on changes in corporate results and bond market yields.