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JPN225: V-type reverse upward
2022-09-29
1255
Fundamental analysis:
The Nikkei 225 Index closed down 447.37 points, or 1.68%, at 26124.50 on September 28 (Wednesday). According to the statistical data of Japan Semiconductor Manufacturing Association (SEAJ), the sales of semiconductor equipment in Japan increased by 38.5% year-on-year to 347.356 billion yen in August, the 20th consecutive month of growth, hitting a record high in a single month.
Nikkei index JPN225 - 4-hour K line chart shows:
Technical analysis:
The 4-hour chart shows that the bearish power maintains a shock downward, the low short-term V-shaped reversal pulls up, and the bulls begin to wait for an opportunity to enter the market. The MACD index stays in the bearish area and maintains a shock upward, while the RSI index hovers in a weak position near the 50 equilibrium line;
Empty turning point: 26397
Pressing position: 26637, 26805
Support position: 26229, 26055
Trading strategy: bullish above 26397, target 26637, 26805
Alternative strategy: 26397 bearish, target 26229, 26055
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