Nikkei 225 Index: ⬆️ Buy
– Nikkei 225 Index reversed from key support level 60500.00
– Likely to rise to resistance level 65200.00
Nikkei 225 Index recently reversed up from the support zone between the key support level 60500.00 (which has been reversing the price from February, stopping wave 4 in the middle of May and wave 2 at the start of August), 61.8% Fibonacci correction of the upward impulse from March and the lower daily Bollinger Band.
The upward reversal from this support zone formed the daily Japanese candlesticks reversal pattern Hammer, which completed the ABC correction (2) from the middle of August.
Given the strength of the support level 60500.00 and the predominant daily uptrend, Nikkei 225 Index can be expected to rise further toward the next resistance level 65200.00 – which has been reversing the price from July.
