Nikkei approaching key Fibonacci retracement level and graphical overlap resistance at our Pivot. With price below moving average, a short term drop towards graphical swing low and 1st support could be possible. Stochastic is also testing resistance where price pulled back lower in the past.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.