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JPN225: Bulls pull up

2022-12-13
1050
Fundamental analysis:
The Nikkei 225 Index closed down 69.51 points, or 0.25%, at 27831.50 points on December 12 (Monday). According to data released by the Bank of Japan, the domestic corporate price index in Japan was 118.5 in November, a record high. Moreover, the index rose 9.3% from the same period last year. Affected by rising energy prices such as crude oil and raw material prices, most companies broadly raised commodity prices.
The Nikkei JPN225——4-hour K-line chart shows:



Brief technical analysis:
Looking at the 4-hour chart: the bulls are pulling up strongly, short-term bullish sentiment is emerging, the MACD indicator is hovering above the 0 axis, and the RSI indicator is on the side of the 50 balance line.
Long and short turning point: 27925
Suppression: 28027, 28093
Support: 27861, 27802
Trading strategy: Bullish above 27925, target 28027, 28093
Alternative strategy: bearish below 27925, target 27861, 27802

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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