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Jpn225: multi head high level finishing

2022-08-12
1154
Fundamental analysis:

The Nikkei 225 index closed down 182.46 points, or 0.65%, at 27817.50 on Wednesday, August 10. Last week (August 1-7), Japan reported 1496968 new coronavirus cases, accounting for about 20% of the world's new cases. It has become the country with the largest number of new coronavirus cases in a single week for three consecutive weeks.


Nikkei index jpn225 - 4-hour K-line chart shows:




Technical analysis:


According to the 4-hour chart, the Bulls' power rose strongly, the high-level narrow range finishing, the MACD index was in the narrow range finishing on the upper side of the 0 axis, and the RSI index was in the weak position of the 50 balanced online side;


Long and short turning point: 28061


Pressing position: 28172, 28230


Support position: 27988, 27924


Trading strategy: bullish above 28061, targets 28172 and 28230


Alternative strategy: bearish below 28061, targets 27988 and 27924

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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