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JPN225: Low pull up
2022-12-09
1041
Fundamental analysis:
The Nikkei 225 Index closed down 124.40 points, or 0.45%, at 27562.00 points on December 8 (Thursday). Japan's GDP shrank at an annualized rate of 0.8% in the third quarter from the previous quarter, compared with economists' expectations for a 1% decline. The upward revision was partly due to a stronger-than-expected increase in exports, as well as a build in inventories.
The Nikkei JPN225——4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the low-level bulls are driven up, short-term bullish sentiment emerges, the MACD indicator is in the short area and moves up, and the RSI indicator is in a weak consolidation near the 50 balance line;
Long-short turning point: 27632
Suppression: 27734, 27806
Support: 27559, 27495
Trading strategy: Bullish above 27632, target 27734, 27806
Alternative strategy: bearish below 27632, target 27559, 27495
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