Cabana Capitals Blog Technical Analysis Will Nikkei 225 have enough momentum to break resistance?

Will Nikkei 225 have enough momentum to break resistance?

Will Nikkei 225 have enough momentum to break resistance? post thumbnail image

Nikkei 225 is heading towards the resistance line of a Channel Up and could reach this point within the next 2 days. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

Supported by RSI below 40

Target: 39222.9 Entry: 38422 Stop: 37960

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