I agree to take a quick long if support holds. However, I think that after some upside, the neckline will be tested (close long and add shorts if good signs of reversal), and then more downside towards the trendline, maybe a break to lower levels to form wave c down of IV down. As I mentioned in my analysis of the JPN225.
thanks for your comments. I hold mid-long term bearish view on Nikkei, S&P and oil. Nikkei may test 15900 level (1H chart, bullish ABCD/Crab, will post this soon) in this quick trade. After the quick long, I will need to see the price action first. glad to discuss more.