In this update we review the recent price action in the Nikkei (futures contract) and identify the next high probability trading opportunity and price objective to target.
Nikkei Futures (NKD) is presently at the 100% – 161.8% Fibonacci extension from February 16, 2021 high and the Index is searching for support. Short Term view suggests that the decline from November 16, 2021 high is unfolding as a 5 waves impulse structure. Down from November 16, 2021 high, wave 1 ended at 27390 and rally in wave 2 ended at 29420. The Index then...
It appears that my short term 27750 level was too timid, and Nikkei powered through the area like butter. The move in the index points to underlying strength and should see continuation higher. I am therefore updating my short term target to 28900 - this being the 1st Fibonacci projection level from the February March selloff. Stay long!
Since 2018 NKD1! has been posting diminishing returns within their market. Though, these are new times none of us have witness when it comes to new economic and monetary policy. Do we reject this trend and print yet another lower high? Or does the Japanese market breakout? What is interesting is that during the US market correction that occurred at the start of...
Japan is the best in many things, but obviously not in stock prices... BUT! Nikkei 225 Index is now looking bullish, we're seeing a support resistance role reversal here. A cup&handle pattern that took 24 years long to form is finally breaking out. We've got measured target from the formation of 35,000, and from there we may see new all time highs on...
Trading within an 8% range from its June peak. Nikkei 225 futures failed to form a new high this week. MACD bullish crossover earlier in the week puts the histogram in the green...
This chart corresponds to the Nikkei daily chart from our article "Nikkei Soars Boosted by Conciliatory Tone on Trade War#
Asian stocks markets it's traded mostly bullish this Friday aided by a conciliatory tone between China and the United States. This week, the Nikkei 225 (CME:NKD) index futures soars 2.38%, but in the long-term, the Japanese index could see more drops.
Nikkei inline with DAX seems doing a Double.. While DAX still has some more higher, NKD looks like completed while last leg of X extended to the 100% - 1.272% Extension of the - legs.. Note as well price has hit the 61.8% Retracement from all time highs to 14.800's lows.. We should see at least a pull back from here if not an extension towards the major W -...