Bullish fervor in global markets - What lies ahead?

The markets have ended the week on a bullish note across most of the world financial markets, after a breakdown scare the previous week. Most of the markets show a SELL FAILURE on their daily/ weekly charts, one of the strongest technical signals for the bulls. Below is a roundup of the major indices around the world.

1️⃣ DJIA - Big Green Bullish Engulfing on Thursday on the daily chart after finding support in the middle of a narrow congestion zone. Ready to test the previous high.

2️⃣ Nasdaq - Big Green Bullish Engulfing in Thursday on the daily chart at a double bottom that marks a remarkable reversal after breaking below the range the day before. A strong sell failure.

3️⃣ Stoxx - Made an ATH last Friday. Weekly candle is a big green one with a close near a Double Top after breaking out of a range. Bullish.

4️⃣ Nikkei - Strong Bullish Engulfing candle after a Bearish Engulfing sell signal last week on the weekly chart. A strong sell failure.

5️⃣ Nifty - Double Bottom breakout where the double bottom has formed at the lower boundary of a very strong gap created on 8th of April. The breakout candle is a massive green candle closing very close to its high. Strongly bullish price action.

6️⃣ Banknifty - Double Bottom breakout on the daily chart last Friday. The weekly chart appears very bullish with an impending breakout from a 1-2-3 bottom pattern.

Overall, the global markets seem to be all set to continue the bullish momentum next week. However, with the current geopolitical situation and the whimsical changing narratives from the highest office of the United States, only time can tell what happens next week.

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