Nikkei future forecast
Chart analysis: Nikkei future currently trading at 15,858 with loss. On intraday chart Nikkei trading below support of 16,050 which will now serve as strong resistance. While on downside Nikkei, future has support levels at 15,640 and then 15,275. While on daily chart, clear top is seen at 16,270, which is Stoploss for short-term short sell trade. While for day traders 16,050 is Stoploss. On intraday chart lower tops pattern clearly support correction phase and lower levels expected ahead.
Trend Indicator: MACD is above zero with clear top formation.
Momentum Oscillator: RSI is below 50 with fresh sell signal on intraday chart.
Versatile Indicator: CCI is at 78 and heading towards zero with strong bearish divergence.
Forecast and Tips: for tomorrow, Nikkei future may continue its correction phase and show lower levels. Day traders must stay short with strict Stoploss and expect 15,650 and then in next 1-2 weeks time frame 15,275 as final target of this correction. On weekly chart, 2 red candles also support this strategy and predicts lower target for Nikkei future.