We are in a once in a lifetime situation as the Coronavirus has gotten to the point of possibly causing a global recession and probably Bearish trend is Continuing this Week.
Therefore Nikkie probably Follows Deep Crab Pattern to reach 1.618 Fibo downtrend Level in this Week.
this is my previous Idea
Nikkie Index has Fallen several Times From Beginning in 1950 Till now.
and The Maximum Rate of Fall in the Nikkie Index over the years has always been in the Range of 61%.
Nikkei is approaching our first resistance at 21088.5 (horizontal pullback resistance, 61.8%, 38.2% fiboancci retracement) where a strong drop might occur to our first support at 20355.7 (horizontal swing low support, 38.2% fiboancci retracement).
Stochastic (34,5,3) is also approaching resistance where we might see a corresponding drop in price.
