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JPN225: high rise
2023-05-17
848
Fundamental analysis:
The Nikkei 225 Index closed up 222.16 points, or 0.75%, at 29848.50 points on May 16 (Tuesday). Japan's Topix hit a 33-year high and chip stocks tracked the Nasdaq's overnight gains, as optimism over a possible U.S. debt-ceiling deal further boosted sentiment.
The Nikkei JPN225——4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the momentum of high-level bulls continues to rise, the short-term bullish sentiment continues, the market as a whole is constantly moving upwards, the MACD indicator is at a high level in the bullish zone, and the RSI indicator is hovering at a high level in the bullish zone;
Resistance level: 29965 30046
Support level: 29719 29630
Trading strategy: Bullish above 29813, target 29965 30046
Alternative strategy: bearish below 29813, target 29719 29630
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