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JPN225: Short position moves down
2023-06-01
748
Fundamental analysis:
The Nikkei 225 Index closed down 449.66 points, or 1.44%, at 30878.50 points on May 31 (Wednesday). Japanese stocks could continue to rise amid an accommodative macro environment, reaching record highs in 1989 as early as the first half of 2025. If a double-digit return on equity can be achieved, the Japanese stock market will hit a record high since the bubble economy, and this requires Japan's core CPI to reach 1.5% or higher.
The Nikkei JPN225——4-hour K-line chart shows:
Brief technical analysis:
Looking at the 4-hour chart: the short-term short-term momentum remains volatile and moves downward, the market is shrouded in bearish sentiment, and there is a trend of continuing to move downward in the short-term, the MACD indicator is below the 0 axis and continues to decline, and the RSI indicator is below the 50 balance line for weak consolidation;
Resistance level: 31041 31218
Support level: 30589 30446
Trading strategy: bearish below 30859, target 30589 30446
Alternative strategy: call above 30859, target 31041 31218
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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