JP225 neutral

Will Nikkei continue to rise?

21 march 2022 99
Ivan__Titov
Ivan__Titov

Listed among the best MarketCheese authors
3rd in the segment "Indices"
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The Nikkei index in February still could not stay above the strong support of 27000. A set of negative factors led to a powerful fall; the bottom was found only around the level of 24300.


Last week, a powerful upward bounce started and as a result Nikkei showed an increase of 8%. And again, the level of 27000 is on the way which is now resistance.


There are no signs of overbought and the upward movement may continue for some time. In case of approaching the downtrend line (now it is at the level of 28300), a good opportunity for selling may appear.

Ivan__Titov
Ivan__Titov

Listed among the best MarketCheese authors
3rd in the segment "Indices"
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