NIKKIE
NIKKEI
It is going to test back its historic peak form in 1990.
Historical monthly charts has shown negative divergence and has led to correction.
But once the higher top and higher bottom formation resumes or is being witnessed
then correction on the back of overbought or negative divergence on RSI can lead to higher bottom formation
in case of correction.
The lower tops has been crossed and the same is shown with black horizontal line.
As a result of the breakout that was seen in last December 20,
expect a rally towards its historical supply zone marked with two horizontal lines at higher levels in due course of time with volatility and sideways correction in lower degrees.
Eventually, Nikkei could be heading towards supply zone-36367-39170.
It is going to test back its historic peak form in 1990.
Historical monthly charts has shown negative divergence and has led to correction.
But once the higher top and higher bottom formation resumes or is being witnessed
then correction on the back of overbought or negative divergence on RSI can lead to higher bottom formation
in case of correction.
The lower tops has been crossed and the same is shown with black horizontal line.
As a result of the breakout that was seen in last December 20,
expect a rally towards its historical supply zone marked with two horizontal lines at higher levels in due course of time with volatility and sideways correction in lower degrees.
Eventually, Nikkei could be heading towards supply zone-36367-39170.
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