Nikkei 225 falling inside minor corrective wave 4
By: Dmitriy Chernovolov
- Nikkei 225 falling inside minor corrective wave 4
- Next sell target - 17100.00
Nikkei 225 continues to fall inside the minor corrective wave 4 – which started previously – when the index reversed down from the resistance zone lying between the strong resistance level 17800.00 (which stopped the previous minor correction 4 in January), upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse from last August.
Nikkei 225 is expected to correct down further to the next sell target at the support level 17100.00 (forecast price calculated for the termination of the active wave 4). Strong resistance now stands at 17800.00.