global stock markets outlook for 2016 part 3 melt up before potential correction 1791222015
Let’s us now sail across the Pacific Ocean to Asia. To access Part 1 and Part 2, click on these links here and here. Nikkei 225 […]
Let’s us now sail across the Pacific Ocean to Asia. To access Part 1 and Part 2, click on these links here and here. Nikkei 225 […]
Let’s us now sail across the Pacific Ocean to Asia. To access Part 1 and Part 2, click on these links here and here.
Intermediate resistance: 22750
Pivot (key resistance): 25050/26900
Support: 16900 & 13900
Based on the above mentioned technical elements, the Nikkei 225 is likely to see an upside movement to target 22750 before the long-term pivotal resistance zone at 25050/26900. Thereafter, a potential correction is likely to occur towards 16900 before 13900, the long-term pull-back support in place since June 1996 that has yet to be retested.
In the alternate scenario, a clear break (weekly close) above the upper limit of the pivotal resistance at 26900 may see the see the continuation of the primary bullish trend to 29610 next.
Source: Charts are from eSignal
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