FXWIREPRO: Nikkei225 Faces Strong Resistance at 16050, Good to Sell on Rallies

FXWIREPRO: Nikkei225 Faces Strong Resistance at 16050, Good to Sell on Rallies

11 April 2016, 05:35
Roberto Jacobs
0
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FXWIREPRO: Nikkei225 Faces Strong Resistance at 16050, Good to Sell on Rallies

  • Major Support - 15000 (200 W MA) 
  • Major resistance - 16050 (55 4H EMA) 
  • The index has retreated after making a high of 16020. It  is currently  trading around 15583.Short term trend is slightly weak as long as resistance 16050 holds . 
  • The index minor support is around 15300 and break below will drag the index down till 15000/147750/14355 in the short term..On the higher side major resistance is around 16050 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 sell on rallies around 15850-900 with SL around 16050 for the TP of 15500/15330.

The material has been provided by InstaForex Company - www.instaforex.com



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