Suryaa Business Desk: Global stock indices remain at key technical support and resistance levels amid continued uncertainty in international financial markets... Global stock indices are hovering at key support and resistance levels in technical terms amid continued uncertainty in international financial markets. Technical analysis makes it clear that investors are showing caution in European and Asian markets along with Wall Street.
Fears of inflation, expectations of interest rates and fluctuating bond yields have led to widespread anxiety about where the market trend will turn. Looking at the charts of major global indices, experts say that the indices are about to test their short-term moving average support zones. Global geopolitical tensions and fluctuations in currency markets are causing concern among investors.
However, buying support in some sector stocks with strong fundamentals is giving the market a temporary reprieve. Technical analysts predict that the market movement in the coming days will mainly depend on central bank activity and upcoming economic results. As per the current technical conditions, the markets are likely to consolidate within a certain range and experts suggest that investors should take a long-term view.