Aurum Markets Blog Technical Analysis Either a rebound or a breakout imminent on Nikkei 225

Either a rebound or a breakout imminent on Nikkei 225

Either a rebound or a breakout imminent on Nikkei 225 post thumbnail image

Nikkei 225 was identified at around 38180.0 having recently rebounded of the resistance on the 30 Minutes data interval. Ultimately, the price action of the stock has formed a Rising Wedge pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 37913.7500 level.

Supported by Downward sloping Moving Average

Target: 37913.75 Entry: 38180 Stop: 38454

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