Weekly Support & Resistance Levels – Nikkei In Focus
Arslan Butt•Thursday, May 25, 2017•1 min read
The Japanese Stock market index, Nikkei, plunged in response to "Risk On" sentiment. We are done with ECB Mario Draghi, FOMC meeting minutes and OPEC meetings. All of these came as no surprise!
Therefore, this morning, the global stock markets continued their bullish momentum due to lack of uncertainty. Japan stocks were higher due to better than expected earnings in the Banking, Paper, Power, and Pulp sector companies.
Anyhow, let's have a look at the fresh weekly trading levels as the Nikkei is more likely consolidated in these levels.
Nikkei – JPN225 – Trading Levels
Support Resistance
S1: 19376 R1: 19921
S2: 19207 R2: 20090
S3: 18935 R3: 20363
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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