– Nikkei 225 broke daily down channel
– Likely to rise to resistance level 70000.00
Nikkei 225 index recently broke the resistance trendline of the daily down channel from June – which enclosed the previous ABC correction (2).
The breakout of this down channel accelerated the active minor impulse wave 3 that belongs to the intermediate impulse wave (3) from the end of June.
Given the long-term uptrend, Nikkei 225 index can be expected to rise to the next round resistance level 70000.00.
– Likely to rise to resistance level 70000.00
Nikkei 225 index recently broke the resistance trendline of the daily down channel from June – which enclosed the previous ABC correction (2).
The breakout of this down channel accelerated the active minor impulse wave 3 that belongs to the intermediate impulse wave (3) from the end of June.
Given the long-term uptrend, Nikkei 225 index can be expected to rise to the next round resistance level 70000.00.
By the FxPro Analyst Team
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By the FxPro Analyst Team
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
Follow our dedicated Telegram channel t.me/fxpro for insightful market analysis and expert commentary.
Reach out to media.comments@fxpro.com for PR and media inquiries
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.