Tickmill
Short

NIKKEI approaching resistance, potential drop!

OANDA:JP225USD   Japan 225
Nikkei is approaching our first resistance at 20899 (100% fibonacci extension , 50% fibonacci retracement , horizontal pullback resistance) and a strong drop might occur below this level pushing price down to our major support at 18995 (61.8% fibonacci extension , horizontal swing low support).
Stochastic (21,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
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Losses can exceed the initial investment so please ensure you fully understand the risks
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This analysis is provided as general market commentary and does not constitute investment advice.
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