Nikkei 225 Wave 5 Ending Diagonal Forming | Target 53,800-53,600

Mar 5

Nikkei225

Good morning!

Crude oil remains stubbornly high, doesn't it?

I believe the market is starting to price in the current war (Iran-related military conflict in the Middle East) as a medium-to-long-term ongoing situation with high probability.

From the Feb 26 high, the impulse pattern has become quite dominant.

We are currently in a descending impulse wave 5, with wave 5 forming an Ending Diagonal.

First, it should touch the end of wave 1 at 55,153, followed by the near-term target of 53,800–53,600.

Invalidation level: 55,852 (end of diagonal wave 2)

#Nikkei225 #ElliottWave

Mar 6

Note

→First, it should touch the end of wave 1 at 55,153→54,895

Mar 6

Note

Quick correction on this morning's post (rushed it a bit, sorry for the typos!):

The invalidation level for the Ending Diagonal in wave 5 is **56,114** (end of diagonal wave 2)