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Nikkei 225 Possible Break Out

By Total Trader | Published: 27 February 2015

nikkei225Feb

Source: Bank of America Merrill Lynch

The Nikkei 225 is pushing above the 2007 high of 18,300, which has the potential to end the secular bear market for Japan that began in 1989. This is a focus chart in our 2015 Year Ahead and our February Monthly Chart Portfolio. A sustained breakout above 18,300 would confirm a secular double bottom for the Nikkei 225 off the 2003 and 2008/2009 lows and point to longer-term upside toward 28,000-30,000. Resistances come in at 20,900-21,575 and 22,750 (mid 1996 peak). Key 2015 support for the Nikkei is 16,700-16,300 with the October and April 2014 lows additional support at 14,530-13,885 (Chart 1).

Related Posts:

  1. A Look at the Nikkei’s Fall; Now in a Bear Market
  2. The Nikkei Model and Monetary Inflation
  3. Richard Russell (Dow Theory Letters): What fundamentals could trigger break of March lows?
  4. 6 SIGNS OF CAPITULATION?
  5. Asia Pacific Equity Daily – 17 April 09
  6. Asia Pacific Equity Daily – 2 April 09
  7. Dow Theory Update

This entry was posted in General and tagged Breakout, Nikkei 225, Nikkei 225 Index. Bookmark the permalink. Both comments and trackbacks are currently closed.
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