Nikkei Forecast for the week 17th March , 2014
- We are trading very close to the Weekly Clouds which could act as support.
- Last week was a very bearish candle (Engulfing)
- If current support is to break, the next level will be the 78.6 retrace then the 100 retrace
- Last Friday saw prices test the 88.6 fib level (from the Feb Lows to the March highs )
- My Bias for the Nikkei is to test the 14500 , if we manage to break above next resis will be 14800
Outlook Trade opportunityI identified a cypher last week at the 78.6 however the price did went to 88.6 level,
If your long, i would TP at the 'B' of this pattern