NIKKEI Index, alongside most Asian stocks, dipped in the Thursday trading session, amid concerns regarding rising interest rates and slowing growth of the global economy.
The investors are still anxious to invest in risky assets before the Fed meeting, which will determine rather to hike the interest rates or hold. The analysts are divided on the issue due to mixed economic data.
The price chart had formed a bearish engulfing Wednesday and keeps the trend Thursday as well, failing with 0.2%. MACD and RSI indicators are still high, but the slow moving average of the RSI had crossed the overbought barrier from above, and the MACD histogram is declining.
If the trend continues, the price might target levels of 31648.81 and 31383.88. On the other hand, if it crosses the pivot point of 32178.67, it might test its resistance level at 32443.6.
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The investors are still anxious to invest in risky assets before the Fed meeting, which will determine rather to hike the interest rates or hold. The analysts are divided on the issue due to mixed economic data.
The price chart had formed a bearish engulfing Wednesday and keeps the trend Thursday as well, failing with 0.2%. MACD and RSI indicators are still high, but the slow moving average of the RSI had crossed the overbought barrier from above, and the MACD histogram is declining.
If the trend continues, the price might target levels of 31648.81 and 31383.88. On the other hand, if it crosses the pivot point of 32178.67, it might test its resistance level at 32443.6.
Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.