Nikkei 225 August 5th, 2022

FX:JPN225   Nikkei 225 Index
Nikkei has been rallying in the last few days, and broke a trend line . Everyone is wondering is it a reversal move or just a bull trap.

This is remain to see but for now I see pretty strong base to go higher. Saying that RSI is quite high, not oversold yet but compering to US indices JPN225 is less like to be severely oversold. Very likely the pullback is expected.

MACD looked like it was going to cross the signal line but not really, we might have one/two more bullish /consolidation days.

I'm going short but please do your own analysis - trading is risky


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