nikkei 225 short term pull back in progress watch 1600015830 support 1821022016
Daily Outlook, Wed 13 July 2016 (Click to enlarge charts) What happened earlier/yesterday The Japan 225 Index (proxy for the Nikkei 225 futures) has indeed […]
Daily Outlook, Wed 13 July 2016 (Click to enlarge charts) What happened earlier/yesterday The Japan 225 Index (proxy for the Nikkei 225 futures) has indeed […]
The Japan 225 Index (proxy for the Nikkei 225 futures) has indeed staged the expected rally towards the descending range top and almost hit the target/resistance at 16670 (printed a high of 16579, a difference of only 0.55%).
Please click on this link for a recap on our prior daily short-term technical outlook/strategy.
Intermediate support: 16000
Pivot (key support): 15830
Resistances: 16670 & 17240
Next support: 15400
Short-term pull-back/consolidation in progress. The Index is now likely to see a further potential short-term decline towards 16000 intermediate support and even the 15830 key short-term pivotal support before another round of potential upleg materialises.
On the flipside, a break above the 16670 descending range top is likely to open up scope for a further direct rise towards the next resistance at 17240 (medium-term target).
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