goo.gl/aRfCvl Why I believe Bloomberg, MarketWatch and others have it all wrong.
Nikkei 225 has not officially entered correction! Japan's index may simply be resuming its 20-year downtrend found at the monthly chart.
What do you think?
Comments
timwest
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Great observation. It's great when you point out an important, long term resistance level. It's just one factor, of course, in making a trade decision, but a useful one for sure. Thanks for publishing it.
JimMakos
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Exactly, long term support or resistance levels tend to be much more reliable compared to level found at shorter timeframes. That doesn't mean of course they cannot be broken, but people tend to oversee them and miss the big picture! Thank you for commenting.
JimMakos
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*tend not to oversee
blackdog
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Jimmara.....nice chart, you have it right
JimMakos
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Haha, thanks! We will see if I am right in a year or two from now, although it should not be a debate on who's right and who's not!