stamoyo

Plausible price action :// Technically

Long
TVC:NI225   Nikkei 225 Index
Technically things seem different and quite clean. 2 upside trends - long- and short-term as the price is just breaking the short one. The price currently ranges the support and resistance line drawn and hovers around to form a bottom which might be used as a wave end of Elliott waves. The Gann fan seems somewhat false or useless because of the price's monotony. Thus, it channels between 2 of the fan's lines and in prospective they are quite wide from one another. This usually predicts a huge move which, in this case, will be quite unlikely, if it goes down. Not only the RSI is bullish, but also China's economy is going on well and no crashes seem legit right now. Nothing is 100% sure, though.
*Disclaimer: this is for educational purposes only*
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.