Weekly Support & Resistance Levels – Nikkei In Focus

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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ABOUT THE AUTHOR See More
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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