Nikkei225 breaks major resistance 17200, good to buy at dips
Chart pattern - Ascending triangle Major resistance - 17200 The index has broken major resistance 17200 and jumped till 17267 at the time of writing. It is currently trading around 17267.Short term trend is bullish as lo…
The index has broken major resistance 17200 and jumped till 17267 at the time of writing. It is currently trading around 17267.Short term trend is bullish as long as support 16750 holds.
On the higher side any break above 17200 confirms minor trend reversal , a jump till 17520/17870.
The index minor support is around 17000 and break below targets 16750/16500.
Short term bullish invalidation only below 16500.
It is good to buy at dips around 17050-17100 with SL around 16750 for the TP of 17520/17870
