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