Technical analysis

Nikkei 225 Wave Analysis – 28 July, 2021

• Nikkei 225 reversed from support zone

• Likely to rise to resistance level 28300.00

Nikkei 225 index today reversed up from the support zone lying between the support level 27500.00

 (which has been reversing the price from January), lower daily Bollinger band and the 38.2% Fibonacci correction of the upward impulse from last October.

The upward reversal from this support zone is likely to form the daily candlesticks reversal pattern Piercing Line. 3.

Nikkei 225 index can be expected to rise further toward the next resistance level 28300.00 (previous minor reversal pivot from the middle of July).

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