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Nikkei 225 - Will the market Fade to a consistent level?

Nikkei 225 - Will the market Fade to a consistent level?

NIKKEI 225 TVC:NI225

➖⚡➖ KEY TAKEAWAYS ➖⚡➖

✔️ Strong rally only natural to retrace

➖⚡➖ TECHNICAL ANALYSIS ➖⚡➖

Bullish Outlook:

A break above the most recent level of ascending resistance (in yellow) would expose further upside

Bearish Outlook:
I think it's only natural to see some profit taking on a strong bullish rally. Question is though, how much of a retracement should we expect? Well historically speaking, the 50% fib level is the most common level.

Regards,
Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.

RISK DISCLAIMER
Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.



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