Nikkei225 Faces Strong Resistance 17000, Break Above Targets 17685

Nikkei225 Faces Strong Resistance 17000, Break Above Targets 17685

27 May 2016, 05:39
Roberto Jacobs
0
37

Nikkei225 Faces Strong Resistance 17000, Break Above Targets 17685

  • Major resistance  - 16985 (100 day EMA) 
  • Major support - 16410 (100 day 4H MA) 
  • Nikkei index  faces strong resistance at 17000 and is struggling to break above that level. It is currently trading around 16839. 
  • Short term trend is  slightly bullish as long as support 16400 holds. 
  • The index major resistance is around 17000 and any break above will take the index to next level 17300/17525.The minor resistance is at 16850.   
  • On the lower side major support is around 16400 (100 day 4H MA)  and break below targets  till 16200/16000/15800 in short term.The minor support is around 16650(55 day EMA).  
  • Short term trend reversal  can be seen only below 15000.


It is good to buy above 17000 with SL around 16650 for the TP of  17525/17685

The material has been provided by ifx_logo.gif



Share it with friends: