The Nikkei 225 is currently testing a major key level. This level has been touched more than 10 times since 2017 (I was lazy and only drew the 2018 touches on the chart).
This level also coincides with the .50 and .618 fibs from the previous swing highs. Also, price action doest not seem to be decisive enough for a break. You can see that most past breaks of this level had much stronger candles.
Given all this, I expect a drop to support at the next key level.
This level also coincides with the .50 and .618 fibs from the previous swing highs. Also, price action doest not seem to be decisive enough for a break. You can see that most past breaks of this level had much stronger candles.
Given all this, I expect a drop to support at the next key level.
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Everything depends on what happens on this retest.