Nikkei is approaching key graphical swing low support at our Pivot. We see a medium probability for an intraday bounce above our pivot towards descending trendline resistance, moving average resistance and 61.8% Fibonacci retracement at our 1st resistance. Stochastic is also reacting above 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.