NIK225 - 24h expiry - We look to Buy at 27855 (stop at 27635)
We are trading at overbought extremes.
A lower correction is expected.
The bias is still for higher levels and we look for any dips to be limited.
The hourly chart technicals suggests further downside before the uptrend returns.
Further upside is expected although we prefer to buy into dips close...
NIK225 - 24h expiry - We look to Buy at 28098 (stop at 27940)
Price action continued to range between key support & resistance (25535 - 28653) and we expect this to continue.
Short term bias is bullish.
Bespoke support is located at 28098.
Preferred trade is to buy on dips.
Expect trading to remain mixed and volatile.
Our profit targets will be 28469 and...
The JAPAN225 (Nikkei index) is close to a significant resistance area, the possibility of a reversal or a change in the direction of the uptrend to a downtrend will increase. This is because a resistance area is a price level that has been tested before and successfully prevented the price from rising, so there is a possibility that this level will once again act...
