Cabana Capitals Blog Technical Analysis Possible breach of resistance level by Nikkei 225

Possible breach of resistance level by Nikkei 225

Possible breach of resistance level by Nikkei 225 post thumbnail image

Emerging Rising Wedge pattern in its final wave was identified on the Nikkei 225 30 Minutes chart. After a strong bullish run, we find Nikkei 225 heading towards the upper triangle line with a possible resistance at 38026.2455. If the resistance shows to hold, the Rising Wedge pattern suggests a rebound back towards current levels.

Supported by Upward sloping Moving Average

Target: 38026.2455 Entry: 37648 Stop: 37405

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