Buying Nikkei on dips.NIK225 - 24h expiry - We look to Buy at 27280 (stop at 27140)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
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.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 27670 and 27890
Resistance: 27890 / 28505 / 29295
Support: 27395 / 27055 / 26710
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