Technical analysis

Nikkei 225 Wave Analysis 26 March, 2021

Nikkei 225 Wave Analysis 26 March, 2021

• Nikkei 225 reversed from support zone

• Likely to reach resistance level 30000.00

Nikkei 225 index recently reversed up from the support area located between key support level 28275.00 (top of the previous wave A), lower daily Bollinger Band and 50% Fibonacci correction of the upward impulse from December.

The upward reversal from this support area stopped the previous intermediate correction (2).

Nikkei 225 is likely to rise further toward the next round resistance level 30000.00. Strong support remains at the support level 28275.00.

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