FxWirePro
Short

Nikkei225 :Sell on rallies

TVC:NI225   The Nikkei Stock Average Index
83 0 6
Pattern Formed- Ascending triangle pattern.

Major resistance- 17000.

Major support - 16350 ( trend line joining 15088 and 15894).

Nikkei225 has slightly recovered after making a low of 16452. It is currently trading around 16584.

The index is facing minor support at 16430 (daily Kijun-Sen) and any break below will drag the index till 16350. It should break below 16350 ( trend line support) for further weakness.Any violation below 16350 will drag the index to next immediate support 16200/16000/15880.

Short term trend is slightly bearish as long as the index not able to close above psychological resistance 17000.

On the higher side, any break above minor resistance 16800 will take the index to next level 17000/17158 (200 -day MA). Extreme bullishness can be seen if the index closes above 17168 (200 day MA).
It is good to sell on rallies around 16650-700 with SL 17000 for the TP of 16350/16200/16000.
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out