Nikkei 225 Wave Analysis 11 November, 2020

• Nikkei 225 broke resistance level 25000.00

• Likely to rise to 26500.00

Nikkei 225 index continues to rise after the earlier breakout of the key resistance level 25000.00 and the resistance trendline of the wide daily up channel from June.

The breakout of the resistance level 25000.00 intensified the bullish pressure on Nikkei 225 index – accelerating the active impulse waves 3 and (3).

Nikkei 225 is likely to rise further toward the next resistance level 26500.00 (forecast price for the completion of the active shot-term impulse wave 3).