Nikkei 225 Wave Analysis 19 March, 2021

• Nikkei 225 falling inside minor corrective wave 2  

• Likely to reach support level 28850.00

Nikkei 225 index previously reversed down with the daily candlesticks reversal pattern Shooting Star Doji from the key resistance level 30500.00 – strengthened by the upper daily Bollinger Band.

The downward reversal from the resistance level 30500.00 started the active minor corrective wave 2.

Nikkei 225 index is likely to fall further toward the next support level 28850.00 (target price for the completion of the active wave 2).