Nikkei 225: ⬆️ Buy
– Nikkei 225 reversed from pivotal support level 52000.00
– Likely to rise to resistance level 54750.00
Nikkei 225 index recently reversed from the support zone between the pivotal support level 52000.00 (former resistance from October), 20-day moving average and the support trendline from April of 2024.
This support zone was further strengthened by the 38.2% Fibonacci correction of the upward impulse 3 from December.
Given the sharp daily uptrend, Nikkei 225 can be expected to rise to the next resistance level 54750.00 (which stopped earlier impulse wave 3).