Nikkei 225 Daily Forecast Dec 11 2014

Japan652 min
Japan652 min

Outlook in Nikkei 225 index has turned to the downside as long as 17630 resistance holds on a daily closing basis , support comes at the 17045 levels , below this level will open 16760 levels ,a halt is likely , but a cut would open 16400 next , further down will aim the 16000 levels .

On the upside , a failure to hold below the 17045 levels on a daily closing basis could mean a return to the 17630 levels , a halt is likely , but a breach will recapture the 18095 levels .If this resistance is taken out , expect the pair to strengthen further towards the 18400 levels , further gains will pave the way towards the 18700 levels ahead of the 19000 levels.

In all , as long as 17630 resistance holds on a daily closing basis , outlook  in Nikkei 225 index remains on the downside towards the 16760/16400 levels , above 17630 will reverse risk towards the 18095/18400 levels .

In the medium term forecast , the pair remains bullish as long as support 16690/17035  holds on a weekly closing basis , but resistance comes at the 1770 levels , we might see hesitation or rebound around this level before resuming the uptrend , however , a clear break above the 1770 levels will pave the way towards the 18700 levels ahead of the 19700 levels.On the downside , below 16690/17035 will bring deeper pullback towards the 15250/14360 levels before the next move…

 

Nikkei 225 Daily Forecast Dec 11 2014

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