FXWIREPRO: Nikkei225 Consolidates Between Narrow Range, Good to Buy at Dips
30 March 2016, 06:22
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FXWIREPRO: Nikkei225 Consolidates Between Narrow Range, Good to Buy at Dips
- Major resistance - 17300
- The index is consolidating between 16650 and 17161 for the past five trading session.It is currently trading around 17007.Short term trend is bullish as long as support 16500 holds.
- Nikkei is struggling to beak above 17300 and any further bullishness can be seen only above 17300.On the higher side any break above 17300 will take the index to next level till 17520/17750/17900.
- The index major support is around 16500 and break below targets 16000/15500.
- Short term bullish invalidation only below 15500.
It is good to buy at dips around 16750 with SL around 16500 for the TP of 17300/17520/17750.
The material has been provided by InstaForex Company - www.instaforex.com
