Some potential but considering options elsewhere in region. Trendlines in place - watching brief to confirm they are valid B, HF
$DJI Bullish $NIKKEI Rejected where it should. So far a fake-out.
Gold vs. Real Yields for Nov. 2020
Nikkei Index futures are moving higher breaking price levels from September 2018. As expected and mentioned in previous Nikkei 225 index analysis, a new strong bullish impulse has been created around 23,572 price level. The strength of that movement has turned that bullish impulse into a strong demand imbalance for the Japanese index. The timeframe attached...
Looking at the chart, it appears NIKKEI dumped as soon as MFI got overbought. Something watch out for next time, there's a reason why I plot both RSI and MFI
Japan and Korea both overbought and appear to have rolled over. Could this be the end of the vaccine pump? We'll find out later this week, but I would count on Asia to pump futures for the rest of teh week.
Nikkei 225 just hit significant fibonacci retracement level - 61.8% “Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria” - John Templeton Ask yourself at what stage we are from famous John Templeton quote
View On Nikkei Stock Index(23 Nov 2020) Nikkei was in the STRONG UP trend, using 25,200- 25,500 for now. So, as long as the above mention region is hold, it is better to stay on the BUY side. DYODD, all the best and read the disclaimer too. Feel Free to "Follow", press "LIKE" "Comment". Thank You! Legal Risk Disclosure: Trading foreign exchange or CFD...
➖⚡➖ KEY TAKEAWAYS ➖⚡➖ ✔️ Strong rally only natural to retrace ➖⚡➖ TECHNICAL ANALYSIS ➖⚡➖ Bullish Outlook: A break above the most recent level of ascending resistance (in yellow) would expose further upside Bearish Outlook: I think it's only natural to see some profit taking on a strong bullish rally. Question is though, how much of a retracement should we...
WAVE-5 of the 5th-WAVE .... Be CAREFUL of the possible RAMIFICATIONS for NEXT weeks TRADING
FTSE: REACHES FINAL WAVE-C of DOUBLE CORRECTION ( As oF MARCH FTSE has been in CORRECTION ): THEREFORE EVERY MAJOR INDICES is ALIGNING toward the Downside
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Short term Elliott Wave view on Nikkei (NKD) suggests the Index ended cycle from October 9 peak in wave (2) at 22889. Subdivision of wave (2) unfolded as a zigzag. Down from October 9 peak, wave A ended at 23380 and wave B ended at 23705. Wave C of (2) ended at 22889 which can be seen in the 45 minutes chart below. Index has since turned higher in wave (3)....
At very high levels but time for a SELL to check 20361 level