JPN225: Multi head rapid lifting
2022-10-14
1136
Fundamental analysis:
The Nikkei 225 Index closed 148.33 points lower, or 0.56%, at 26248.50 on October 13 (Thursday). The Bank of Japan's quarterly survey showed that the ratio of Japanese households expected to see prices rise in the next year fell to 85.7% from 87.1% in June.
Nikkei index JPN225 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that after the narrow range consolidation of the low position, the low position of the bulls' power rapidly rose, and short-term bullish sentiment began to emerge. The MACD indicator remained in the short position area and moved upward to hover around the 0 axis, while the RSI indicator was in the 50 equilibrium line of market consolidation;
Empty turning point: 26732
Pressing: 26898, 26999
Support: 26614, 26503
Trading strategy: bullish above 26732, target 26898, 26999
Alternative strategy: 26732 bearish, target 26614, 26503
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