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JPN225: Move down the high position

2023-03-10
918
Fundamental analysis:

The Nikkei 225 index closed up 187.31 points, or 0.66%, to 28631.50 points. Sojitz, a Japanese trading company, and Japan Oil, Gas, Metals and Mineral Resources Corporation will purchase the heavy rare earths that Lynas Australia will start to produce. At present, the two parties have signed a contract, and will invest about 200 million Australian dollars in Lynas within March at the earliest. Production of dysprosium and terbium will begin within a few years, supplying up to 65% of them to Japan.

The Nikkei JPN225——4-hour K-line chart shows:



Brief technical analysis:

Looking at the 4-hour chart: the short-term momentum remains oscillating and moving down, the short-term short-term sentiment is shrouded, the market as a whole is in a weak position, the MACD indicator is in the bullish area and continues to move down, and the RSI indicator is hovering below the 50 balance line;

Resistance level: 28098 28184

Support level: 27880 27791

Trading strategy: bearish below 28012, target 27880 27791
Alternative strategies: call above 28012, target 28098 28184

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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