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Nikkei: bearish sentiment shrouded

2022-07-14
1166
Fundamental analysis:

The Nikkei 225 index closed up 136.84 points, or 0.52%, at 26473.50 on Wednesday, July 13. Japanese Minister of economy and industry Hagi Morita: Japan needs to make an emergency response to the energy crisis. We should diversify energy sources and ensure stable supply.


Nikkei index jpn225 - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart: the short power maintained a shock downward, the low began to consolidate and translate, and the short-term bulls showed signs of waiting for the opportunity to enter, but the long pull-up power was insufficient, and the short was still strong. The MACD index hovered around the 0 axis, and the RSI index was in a narrow range consolidation near the 50 equilibrium line;


Long short turning point: 26505


Pressing position: 26699, 26928


Support position: 26207, 25966


Trading strategy: bearish below 26505, targets 26207, 25966


Alternative strategy: bullish above 26505, targets 26699, 26928

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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