Buying Nikkei in a bullish channel.NIK225 - 22h expiry - We look to Buy at 27675 (stop at 27360)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
Trading within a Bullish Channel formation.
Our expectation now is for this swing lower to continue towards the bottom of the trend channel, to complete a correction before buyers return.
Preferred trade is to buy on dips.
Our profit targets will be 28580 and 29240
Resistance: 28360 / 29240 / 30175
Support: 27370 / 26930 / 26385
Disclaimer – Saxo Bank Group.
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