. Nikkei 225 Weekly Chart Analysis & Forecast.

Nikkei 225 Weekly Chart Analysis & Forecast.

26 May 2023

Nikkei 225 Technical Analysis: Weekly Chart

In the weekly charts, Nikkei 225 is trading in an upward channel. Nikkei 225 is currently trading above all SMA.

RSI is in the overbought zone which indicates mild-bearishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 30000.00 the resistance level is at 32000.00

Nikkei 225 will trade in an up channel until there is a trend reversal. 

Nikkei 225 Technical Analysis: Daily Chart

In the daily charts, Nikkei 225 was trading in an up channel. Nikkei 225 is currently trading above all SMA except MA (5).

RSI is in the overbought zone which indicates mild-bearishness. MACD is currently above zero which indicates bullishness.

Its immediate support is 30000.00 the resistance level is at 32000.00

Nikkei 225 will trade in an up channel until there is a trend reversal.   

How to Trade Nikkei 225 this Week:

Nikkei 225 will follow the uptrend until its trend reversal. So, remain bullish on Nikkei 225

TRADE SUGGESTION- BUY AT 31000.00, TAKE PROFIT AT 32000.00 AND STOP LOSS AT 29000.25