FXWIREPRO: Nikkei225 Faces Strong Resistance Around 17300, Good to Buy at Dips
22 March 2016, 05:32
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FXWIREPRO: Nikkei225 Faces Strong Resistance Around 17300, Good to Buy at Dips
- Major resistance - 17300
- The index has broken minor resistance around 17000 and jumped till 17097 at the time of writing slightly recovered after making a low of 17014. It is currently trading around 16664.Short term trend is bullish as long as support 16500 holds.
- On the higher side the index is facing major resistance around 17300 and any break above 17300 will take the index to next level till 17520/17750.
- The index major support is around 16450 and break below targets 16000/15500.
- Short term bullish invalidation only below 15500.
It is good to buy at dips around 16750-800 with SL around 16420 for the TP of 17300/17520.
The material has been provided by InstaForex Company - www.instaforex.com
