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JPN225: Bull surge

2022-11-11
528
Fundamental analysis:

The Nikkei 225 Index closed 276.54 points lower, or 1.00%, at 27439.50 on November 10 (Thursday). The epidemic in Japan entered the eighth wave, with an increase of more than 400000 cases in a single week, ranking first in the world again; Bank of Japan Governor Yoshihiko Kuroda said that Japan's consumer inflation rate may fall below 2% in the next fiscal year, and there is no stage to discuss withdrawing from the easing policy.


Nikkei index JPN225 - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the bulls' momentum has risen rapidly, and short-term bullish sentiment has emerged. The early high is just around the corner, and the market bulls' sentiment continues. The MACD index is in the bulls' area and moves up, and the RSI index is in the 50 balanced online side;


Multi empty turning point: 27897


Pressing: 27999, 28072


Support: 27818, 27741


Trading strategy: bullish above 27897, target 27999, 28072


Alternative strategy: 27897 bearish, target 27818, 27741

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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