nikkeitrade

Having broken out of resistance around the 23000 area and come back below it, the technical picture now looks muddled. For now we can say that we're in a rising wedge, and trend support is currently at the lower boundry.

The Nikkei has broken out of its multi-month ascending triangle. If resistance at 24.2 zone can be overcome, targets are 24.4 area and 25.8 area.

In Nikkei, the signs are pointing downwards. There are several signals that indicate falling prices in the Nikkei. On the one hand, the repeatedly tested resistance could not be overcome and on the other hand, the CCI also issued a sales signal. As a stop loss, the 19,800 is quite good and as a take profit 19,300 is a good choice. This results in an excellent...