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NIKKEI 225 – TECHNICAL CHART STUDY AND INDICATION

NIKKIE

As we can look at the chart of NIKKEI we can cleanly see that it has form two chart patterns now, one is ASCENDING TRIANGLE AND ANOTHER ONE IS SYMMETRIC TRIANGLE and price is able to move above both of this triangle now at around 15300 level, now trading at 15500-600 range.

as per RSI we can see that, its a main concern now on chart as RSI already moved into a overbought zone now, at around 83 level.

so overall view is, as per patterns it should given around 1500-1800 points move on chart from 15300 level which can lead for 16500-17500 range also. but concerning the rsi we can say that if it able to give red bars on chart for entire week or if it stays below 15000 for entire week then some trend reversal possible, because rsi we can decide the level of overbought zone.

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