Nikkei 255 Index. (Daily). Strong support. Potential Bounce.

FX:JPN225   Nikkei 225 Index
197 2 4
12/5 uptrend_line support.
Three Drives pattern potential.
Daily 200 sma . ( just for relative reference, S&P500             200 sma is around 1207)
Daily RSI 32. ( Double bottom 8/8 )
AB=CD potential completion at 0.618.
1.272 expansion first wave, top.
Cloud support.

Weekly 50 sma support.
Weekly RSI at 53. ( double bottom 8/8 )

Target_1 : (50 sma ) - 15823

Breaking this support and 200 sma , could open the door for next potential targets: 14646, 13894.
Weekly chart is very very very bearish! Although a rally is possible, I would concentrate on the short side :)
+1 Reply
rv vlad.adrian
thanks vlad. yes only, for a potential bounce.
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