NIKKEI approaching resistance, potential drop!

Nikkei is approaching our first resistance at 22320.0 (61.8% Fibonacci retracement , 61.8% Fibonacci extension , horizontal overlap resistance where a strong drop might occur below this level pushing price down to our major support at 20303.4 (61.8% Fibonacci retracement , Horizontal swing low support)

Stochastic is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.

The material has been provided by InstaForex Company - www.instaforex.com

Nikkei approaching resistance, potential drop!

Nikkei is approaching our first resistance at 22630.1 (horizontal swing high resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 20855.7 (50% Fibonacci retracement , horizontal swing low support).

Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price.

The material has been provided by InstaForex Company - www.instaforex.com

Nikkei approaching resistance, potential drop!

Nikkei is approaching our first resistance at 22630.1 (horizontal swing high resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 20855.7 (50% Fibonacci retracement , horizontal swing low support). Stochastic (21,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.

The material has been provided by InstaForex Company - www.instaforex.com