The Nikkei 225 Index closed up 67.04 points, or 0.24%, at 27654.50 on November 1 (Tuesday). The prospects of Japanese domestic manufacturers and trade activities in the whole region are uncertain, which further challenges Japan's top decision makers at a time when the interest rate hike may lead to global economic recession. Japan's Au Jibun Bank manufacturing purchasing managers' index (PMI) in October fell to 50.7 from the final value of 50.8 in September after seasonally adjusted.
Nikkei index JPN225 - 4-hour K line chart shows:
The 4-hour chart shows that the bulls' power kept surging, broke through the previous high and began to retreat. The bears' power waited for an opportunity to enter the market. The MACD index was maintained in the bulls' area, and the RSI index was in the 50 balanced online weak side;
Empty turning point: 27,595
Pressing: 27714, 27833
Support: 27431, 27319
Trading strategy: bearish under 27595, target 27431, 27319
Alternative strategy: bullish above 27595, target 27714, 27833