FxWirePro: Nikkei225 Recovers After Making a Low of 15837, Good to Sell on Rallies

FxWirePro: Nikkei225 Recovers After Making a Low of 15837, Good to Sell on Rallies

2 May 2016, 05:43
Roberto Jacobs
0
31

FxWirePro: Nikkei225 Recovers After Making a Low of 15837, Good to Sell on Rallies

  • Major resistance  - 16600 
  • Major support - 15800 
  • Nikkei index slightly recovered  after making a low of 15837.It is currently trading around 16072. 
  • Short term trend is  bearish as long as resistance 16600 holds. 
  • The index minor resistance is around 16200 and any break above will take the index to next level 16375(55 day H EMA)/16600/16800. 
  • On the lower side major support is around 15800  and break below will drag the index down till 15500/15325 in short term. .  
  • Short term trend reversal  can be seen only below 15000.

It is good to sell on rallies around 16300 with SL around 16600 for the TP of 16000/15550

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



Share it with friends: