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JPN225: High order multiple head up
2022-10-18
1076
Fundamental analysis:
The Nikkei 225 Index closed down 323.76 points, or 1.20%, at 26767.00 on October 17 (Monday). At the Budget Committee of the House of Representatives of Japan, Bank of Japan Governor Hideki Kuroda said that in the context of high raw material prices, price increases are temporary. He stressed that in order to achieve the goal of sustainable price stability, monetary easing will continue to be implemented.
Nikkei index JPN225 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the market bull momentum remains volatile and rising, and the short-term bullish sentiment continues. The early high is near the breaking point of Chi chi, the MACD indicator is hovering on the top of the 0 axis, and the RSI indicator is in the 50 balanced online weak sorting;
Multi empty turning point: 27038
Pressing: 27211, 27325
Support: 26917, 26803
Trading strategy: bullish above 27038, target 27211, 27325
Alternative strategy: 27038 lower bearish, target 26917, 26803
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