Nikkei holding above short term ascending trendline support. With price approaching long term 23.6% Fibonacci retracement, short term 78.6% retracement, we can expect an intraday bounce towards graphical swing high resistance and 1st resistance where we also find 78.6% Fibonacci extension as well. Stochastic is reacting above support where price bounced 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.