Wednesday, January 8, 2014

Nikkei Index future prediction: expect correction upto 15600

nikkei index future prediction 9 january 2014

Nikkei Index future prediction


Chart analysis: Nikkei future is trading at 15,973 with gain. However, off the high on profit booking and tapering concerns. On intraday chart Nikkei future support levels are 15,650 and below that 15,280 is Nikkei 3 month average and last support zone from short-term view. On upside 16,000 and 16,390 are strong resistance levels and targets for Nikkei future as trend is up. For tomorrow out is bullish but keep strict Stoploss for all long positions.

 

Trend Indicator: MACD is above zero but at top.

Momentum Oscillator: RSI is 51 with fresh buy signal on chart.

Versatile Indicator: CCI is +99 and with bullish divergence.

 

 

Forecast and Tips: for tomorrow, Nikkei future outlook will remain bullish and trading strategy should be buy on dips. On upside 16,000 is first target which is almost insight while above that if sustain then expect 16,390-16,400. On daily chart, this was second gaining session for Nikkei future and suggesting trend is resumed after correction.below 16,300 there is more possibility of correction as tapering news hit the market.

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