Market Snapshots

Nikkei 225 Wave Analysis – 16 March, 2020

Nikkei 225 Wave Analysis – 16 March, 2020
  • 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).

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