NIKKEI 225 POISED AT IMPORTANT PRICE TRIGGER POINT
This week’s action is subdued due to the US Holiday but, the Nikkei 225 is resting upon an important price trigger point. TO READ MORE, BECOME A MEMBER.
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The latest upswing in prices that took place over the course of this month (November) have now reached a pause point that will either launch prices still higher in the weeks ahead or, if they break below the blue rectangle on the chart to the left, propel prices downwards for at least a week or more.
Should price spring upwards from this price point, it will likely do so quickly and move past 16000 in short order.
However, should price momentum weaken and drop from here, then, price could easily drop 900 to 1000 points in the course of just a week or two. It’s an exciting possibility in either case as the upwards potential is equal to the downwards one.
The tip-off to an upwards potential (on the daily charts) will be if price can summon the energy to take out the previous high of last Friday.
A downside objective will be highly likely if prices drop below the lows of yesterday. – George
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