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Nikkei seems poised to correct from 3-month high

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - The Nikkei 225 rose sharply on Thursday, gaining 210 points or 1.07% to 19.859.81, marking its highest closing level since Aug 20, tracking Wall Street gains as investors digested the release of the Federal Reserve's October meeting minutes.

    Nikkei technical view

    The index corrected a tad lower after the close and is headed to open around 19,830 while the daily chart shows indicators correcting lower following yesterday’s steep advance. In the 4 hours chart, the index trades above its moving averages, but indicators are crossing midlines upside-down, also favoring a deeper correction ahead of another leg-higher.

    Support levels: 19,763 19,685 19,639 Resistance levels: 19,942 20,038 20,140
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