Nikkei 225 - Will the market Fade to a consistent level?➖⚡➖ KEY TAKEAWAYS ➖⚡➖
✔️ Strong rally only natural to retrace
➖⚡➖ TECHNICAL ANALYSIS ➖⚡➖
Bullish Outlook:
A break above the most recent level of ascending resistance (in yellow) would expose further upside
Bearish Outlook:
I think it's only natural to see some profit taking on a strong bullish rally. Question is though, how much of a retracement should we expect? Well historically speaking, the 50% fib level is the most common level.
Regards,
Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.
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