Nikkei 225 Wave Analysis – 16 March, 2020
March 16, 2020 @ 17:21 +03:00
- Nikkei 225 falling inside impulse sequence ⑤
- Likely to fall to 16000.00
Nikkei 225 has been falling sharply in the last few trading sessions after the index broke below the powerful long-term support level 19000.00 (which started the extended multi-year uptrend back in 2018).
The breakout of the support level 19000.00 accelerated the active sharp downward impulse sequence ⑤.
Nikkei 225 is likely to fall further toward the next support level 16000.00 (former strong support from the end of 2016).