NIKKEI FORMED A WEDGE ALONG WITH RSI DIVERGENCE
Japanese Nikkei-225 has made a wedge structure after year long downtrend broken in november 2016.
Currently, If we look at equities asset classes, NIKKEI along with SPX500, DOW, DAX, FTSE all are vulnerable to a correction. Recent Oil sharp decline has cemented the case further.
Technically nikkei is consolidating in 600 pips range since last three months but RSI divergence is posing that a down move may be on the cards. If price breaks above 19600 daily close, wait the move to be confirmed by RSI. On the other hand a bearish bias will be in place if 19000 supp is broken.
Your capital is at risk...
Trade with Care.....
Currently, If we look at equities asset classes, NIKKEI along with SPX500, DOW, DAX, FTSE all are vulnerable to a correction. Recent Oil sharp decline has cemented the case further.
Technically nikkei is consolidating in 600 pips range since last three months but RSI divergence is posing that a down move may be on the cards. If price breaks above 19600 daily close, wait the move to be confirmed by RSI. On the other hand a bearish bias will be in place if 19000 supp is broken.
Your capital is at risk...
Trade with Care.....
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