NIKKEI is approaching ascending trendline support which also finds confluence with 61.8% Fibonacci retracement level. A short term intraday bounce above our pivot towards graphical swing high resistance and 1st resstance could be likely. MACD indicator is above 0 as well, showing room for further bullish momentum. Failure to hold above picot will see price drop lower towards 1st support.
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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.