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JPN225: High falling

2022-11-10
1069
Fundamental analysis:


The Nikkei 225 Index closed down 160.11 points, or 0.57%, at 27,712.00 on November 9 (Wednesday). Japan's current account surplus in the first half of this fiscal year recorded the largest year-on-year decline since the global financial crisis in 2008.


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




Technical analysis:


The 4-hour chart shows that the momentum of high short positions has fallen rapidly, and the short-term decline may continue. The market short positions are emerging constantly. The MACD index is at a high level and moves downward in shock, while the RSI index is at the lower side of the 50 equilibrium line;


Multi empty turning point: 27561


Pressing: 27651, 27730


Support: 27,442, 27,347


Trading strategy: 27561 bearish, target 27442, 27347


Alternative strategy: bullish above 27561, target 27651, 27730

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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