FXWIREPRO: Nikkei225 Recovers After Making a Low of 15500,good to Sell on Rallies

FXWIREPRO: Nikkei225 Recovers After Making a Low of 15500,good to Sell on Rallies

12 April 2016, 06:38
Roberto Jacobs
0
8

FXWIREPRO: Nikkei225 Recovers After Making a Low of 15500,good to Sell on Rallies

  • Major Support - 15000 (200 W MA) 
  • Major resistance - 16050 (55 4H EMA) 
  • The index has slightly recovered after making a low of 15513. It  is currently  trading around 15920.Short term trend is slightly weak as long as resistance 16050 holds . 
  • The index minor support is around 15500 and break below will drag the index down till 15300/15000/14750 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 16450 (7 W EMA) and break above targets 16800/17000/17300. 
  • Short term bearish invalidation only above 17300.

It is good to sell on rallies around 15900 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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