NIKKEI approaching key graphical swing low, possible chance for a bounce
Nikkei dipped lower at the start of the trading session, testing key graphical swing low and long term 38.2% Fibonacci retracement. A short term intraday bounce above our Pivot towards recent graphical swing high zone and 100% Fibonacci extension at our 1st resistance could be possible. Stochastic approaching support where price bounced in the past.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.