Nikkei225 jumps in the early morning session and hits fresh 10 month high after crude prices rises on account of deal between OPEC and non OPEC . The index breaks psychological resistance at 19000 and jumped till 19221. It is currently trading around 191214 0.45% lower.
Technically index is slightly bullish as long as support 18720 (7- day EMA) holds.
•On the higher side, major resistance is around 19300 and any break above targets 19445 (78.6% retracement of 20720 and 14730)/19600 in the short term.
•The index immediate support is at 18720 (7- day EMA) and any break below targets 18550 (10- day MA)/18280 (21- day MA)/ 18000.
•The index should break below 16800 for further weakness.
It is good to buy on dips around 18750 for the TP of 18500 for the TP of 19440/19600.
