FXWIREPRO: Nikkei225 Faces Strong Support Around 15000, Good to Buy at Dips
- Major Support - 15000 (200 W MA)
- Major resistance - 16420 (7 W EMA)
- The index has made a low of 15323 and recovered till from that level. It is currently trading around 15658.Short term trend is slightly bullish as long as support 15000 holds .
- Any break below 15000 confirms minor weakness and decline till 14750/14355 is possible in short term.On the higher side minor resistance is around 15910 and break above targets 16300/16420.
- The index short term resistance is around 16420 and break above targets 16800/17000/17300.
- Short term bearish invalidation only above 17300.
It is good to buy at dips around 15300-350 with SL around 15000 for the TP of 16000/16300
The material has been provided by InstaForex Company - www.instaforex.com