Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Nikkei225 faces strong support at 15800, good to sell on rallies

  • Major intraday resistance  - 16300
     
  • Major support - 15800
     
  • Nikkei index slightly retreated after making a high of 16260 at the time of writing.It is currently trading around 16022.
     
  • Short term trend is  bearish as long as resistance 16600 holds.
     
  • The index minor resistance is around 16300 and any break above will take the index to next level 16375(200  4HMA )/16600/16800.
     
  • On the lower side major support is around 15800  and break below will drag the index down till 15500/15325 in short term.
      
  • Short term trend reversal  can be seen only below 15000.

It is good to sell on rallies around 16300 with SL around 16600 for the TP of 16000/15550

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.