Nikkei is approaching our first support at 22205 (horizontal swing low support, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our first resistance at 23066 (horizontal swing high resistance, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also approaching support and we might see...
Key levels to look out for Nikkei . Please refer to our 4hr chart for a strategic view!
Nikkei is approaching our first support at 22074.3 (horizontal overlap support, 100% Fibonacci extension). A strong bounce might occur above this level, pushing price up to our major resistance at 22423.9 (horizontal swing high resistance). Stochastic (34,5,3) is also seeing a bullish divergence and is approaching our major support. A bounce off this level might...
Nikkei is testing major resistance at 22178 to 22360 where we can see strong fibonacci retracement and fibonacci extension along with horizontal overlap resistance. What is nice to see is that there are multiple stochastic reactions that has occurred at that level too. Major support is at 21700 which is a strong fibonacci retracement, extension and overlap support.
Nikkei is testing major support at 21700 which is the 38% retracement and 61.8% extension along with a strong overlap support. Breaking this level could trigger a strong move down to 21353 ( 61.8% retracement , 100% extension, horizontal overlap support). It's important to note that RSI has broken below our strong 50% support signalling that a potential bearish...
Nikkei is approaching major support at 21700 (Fibonacci retracement, Fibonacci extension, horizontal overlap support, Ichimoku cloud support) and there is a potential for a bounce above this level towards 22360 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (55) sees strong support above 50% which is the level that would maintain our bullish bias.