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JPN225: sorting and rollback

2022-11-17
520
Fundamental analysis:

The Nikkei 225 Index closed up 45.33 points, or 0.16%, at 28035.50 on November 16 (Wednesday). Japan's core machinery orders in September fell 4.6% from the previous month. Core machinery orders are regarded as the leading indicator of capital expenditure in the next six to nine months, and the data fluctuates greatly. The median market survey estimate was 0.7% growth. Core machinery orders fell 5.8% in August.



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




Technical analysis:

The 4-hour chart shows that the momentum of high short positions keeps fluctuating and slowly declines, market short positions begin to emerge slowly, and the short-term pullback may continue. MACD indicators are in the consolidation and decline of long positions, and RSI indicators are in the weak position below the 50 equilibrium line;

Empty turning point: 27968

Pressing: 28080, 28158

Support: 27849, 27765

Trading strategy: 27968 lower bearish, target 27849, 27765

Alternative strategy: 27968 upper bullish, target 28080, 28158

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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