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Nikkei: wide range oscillation

2022-07-06
1238
Fundamental analysis:

The Nikkei 225 index closed up 264.69 points, or 1.01%, at 26418.50 points on Tuesday, July 5. Japanese Foreign Minister Lin Fangzheng will visit Indonesia on the 7th of this month and attend the G20 foreign ministers' meeting. He will also explain at the meeting Japan's position and initiatives on issues such as coping with the global food crisis against the backdrop of the current situation in Russia and Ukraine.


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




Technical analysis:


According to the 4-hour chart: in the short term, it is entangled in the wide oscillation of the Bollinger belt index channel, the amplitude space is gradually narrowed, and the Bollinger belt index is in a closing trend. The MACD index is located under the 0 axis, and the short position area maintains consolidation and translation, and the RSI index is located under the 50 equilibrium line;


Long short turning point: 26355


Pressing position: 26569, 26771


Support position: 26051, 25838


Trading strategy: bearish below 26355, targets 26051, 25838


Alternative strategies: bullish above 26355, targets 26569, 26771

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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