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:
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