We have updated our privacy policy and terms & conditions. Find out more here.
3
 

Nikkei: Chance Of A Top

By  |  Stock Markets  |  Jan 31, 2013 11:30AM GMT  |   Add a Comment
 
AA
+
-
Nikkei
Nikkei

The Nikkei pushed on towards resistance at 11219 for profit taking but we have fallen just short at 11190. It is close enough and there is a high chance of a top for the 6 month rally here.

However a sharp collapse in not expected, rather a drift lower to 11010/11000 initially but below here look for 10899. This should hold on the first test sop look for a low and a bounce back may be to 11010. If we do break lower however next target is excellent support at 10810/10788. This should provide a floor for the correction at this stage.

11190/11219 is our resistance band which should be very tough to beat so we watch for a high here again today. Ideally, this being such a big level we need to use a stop above the 2010 high of 11390.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add a Comment

 

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

EUR/USD
 
 
 
Are you sure you want to delete this chart?
 
 
 
Are you sure you want to delete this chart?
 
 
 

Successfully Reported

Thank you. This comment has been flagged for a moderator.
_touchLoadingMsg