Tuesday | 25th September 2018

Good Day all my beloved students & steemians. Inside this daily commentary I will share the short-term technical outlook for Nikkei 225 Index.

  Previous commentary refer here: http://bit.ly/nikkei225-210818

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NIKKEI 225

After ascending non-stop for six consecutive sessions, the upward momentum in the Nikkei 225 appears to be slowing down a little.

Still, the fact that the long-term uptrend in the Japanese markets is intact is never in doubt. While the Japanese markets are closed today for a local holiday, the technical outlook for the Nikkei continues to suggest further upside is in the cards.

Once again, there was another relabeling exercise in the wave count which implies a less bullish outlook in the near to medium term. 

In the latest relabeling exercise, the rise from 22065 is deemed to be at an end phase and a break above last week’s high at 23815 is all that is needed to satisfy the minimum requirement.

Tentatively, a move to 23911 is the focus. This could be followed by a correction with the potential for the Nikkei to pullback to either 23410 or at worst a decline into the demand zone at 22715 – 22885 before resuming its climb.