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JPN225: High level sorting
2022-11-14
1114
Fundamental analysis:
The Nikkei 225 Index closed up 813.90 points, or 2.97%, at 28260.00 on November 11 (Friday). The preliminary statistics released by the Bank of Japan on the 11th showed that the Japanese enterprise price index rose year-on-year for 20 consecutive months, rising 9.1% to 117.5% year-on-year in October, hitting a new high since the statistics, due to the continuous soaring of import commodity prices and the sharp depreciation of the yen.
Nikkei index JPN225 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the bulls' momentum rose rapidly, the market's bulls' momentum weakened, but still hovered at a high level. The MACD index was at a high level in the bulls' region, and the RSI index hovered above the 50 equilibrium line;
Empty turning point: 28022
Pressing: 28158, 28249
Support: 27934, 27849
Trading strategy: 28022 upper bullish, target 28158, 28249
Alternative strategy: 28022 lower bearish, target 27934, 27849
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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