Technical analysis

Nikkei 225 Wave Analysis – 27 May, 2021

• Nikkei 225 broke resistance area

• Likely to rise to resistance level 29655.00

Nikkei 225 index recently broke the resistance area lying between the resistance level 28500.00 (top of the previous impulse wave 1) and the 38.2% Fibonacci correction of the ABC correction (2) from February.

The breakout of this resistance area should accelerate the active impulse waves 3 and (3).

Nikkei 225 index can then be expected to rise further toward the next resistance level 29655.00 (top of the previous wave (iv) and the target for the completion of wave 3).

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