NIKKEI: Bull Flag broken upwards. Target 34,000

Nikkei crossed over its late three month Channel Down pattern which according to the almost +30% rise that preceded it, may be the Bull Flag that technically follows and transitions into the next rally. The 1D technical outlook already turned bullish (RSI = 58.030, MACD = 173.400, ADX = 33.840) and as the 2021 fractal, targets the R1, or at least a little under it (TP = 34,000).

See how the 1D MA100 supported the downtrend on the August 17th bottom and shortly after a Bullish Cross on the 1D MACD followed.

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