Technical analysis

Nikkei 225 Wave Analysis 13 April, 2021

Nikkei 225 Wave Analysis 13 April, 2021

• Nikkei 225 reversed from support zone

• Likely to reach resistance level 30275.00

Nikkei 225 index recently reversed up from the support zone lying between the minor support level 29600.00 and the 38.2% Fibonacci correction of the previous sharp downward impulse wave 1.

The upward reversal from this support zone started the active short-term impulse wave 3 which belongs to wave (3) from last month.

Nikkei 225 is likely to rise further toward the next resistance level 30275.00 (top of the precious minor impulse wave 1).

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