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JPN225: narrow amplitude oscillation

2022-11-16
498
Fundamental analysis:


The Nikkei 225 Index closed up 36.03 points, or 0.13%, at 27999.50 on November 15 (Tuesday). The initial annualized quarterly rate of Japan's real GDP in the third quarter was - 1.2%, expected to be 1.1%, and the previous value was 3.50%. GDP unexpectedly shrank in the third quarter, dragged down by soaring inflation and the global economic slowdown; The soaring risk of global inflation and economic recession, the weakness of the yen and the global interest rate increase have undermined the recovery of the Japanese economy after the epidemic.


Nikkei index JPN225 - 4-hour K line chart shows:




Technical analysis:


The 4-hour chart shows that the power of high short positions fluctuates in a narrow range, and the overall direction of the market moves downward, but the downward mobility is weakened. The MACD index is in the consolidation and translation of the bull region, and the RSI index is in the weak position hovering above the 50 equilibrium line;


Empty turning point: 28075


Pressing: 28158, 28249


Support: 27934, 27849


Trading strategy: 28075 lower bearish, target 27934, 27849


Alternative strategy: bullish above 28075, target 28158, 28249

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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