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JPN225: High level plummeted
2022-10-17
1110
Fundamental analysis:
The Nikkei 225 Index closed up 887.58 points, or 3.38%, at 27125.00 on October 14 (Friday). Japan's core consumer inflation rate may hit an eight year high in September, as companies try to offset the pressure of high raw material costs and a declining yen by raising prices.
Nikkei index JPN225 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the bull power rapidly rose, the high position fell sharply and moved downward in an inverted V trend. The market bearish sentiment began to seize the opportunity to enter the market. The MACD index hovered at the upper side of the 0 axis and the RSI index was at the lower side of the 50 equilibrium line;
Empty turning point: 26634
Pressing: 26745, 26852
Support: 26503, 26396
Trading strategy: 26634 lower bearish, target 26503, 26396
Alternative strategy: bullish above 26634, target 26745, 26852
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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