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Brandon_Leu

Nikkei 225 Experiencing Further Downward Bias

Short
Nikkei 225 Index (TVC:NI225)  
Brandon_Leu Updated   
TVC:NI225   Nikkei 225 Index
Trend Analysis wyckoff
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trendanalysis wyckoff
NI225 is expected to re-test its distribution range low, which is also a previous support level at 20,400 level.

Supporting Claim for Downward Bias:
- Index Broke below its Uptrend Line (stride)
- Uptrend line has turned into resistance for index (Bearish)
- Experienced 2x Upthrust (Failure to maintain new high)

20,400 Level Objective based on:
- Previous support established in Mar 2018
- Fibo 1.618% projection

If Nikkei 225 Breaks Below 20,400 Level:
- Distribution Phase is deemed established and index will enter into MARK DOWN phase
- Next objective will be 19,000 level.

Comment:
1st Objective 20,400 level reached. A break below current level will see index trading towards 19,000 level.
Trade closed: target reached:
2nd objective 19,000 reached.
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