NIKKEI pushed higher and surpassed previous graphical swing high resistance. With price holding above moving average and MACD above 0, we see room for further bullish momentum. A further push up above our pivot and 38.2% Fibonacci retracement towards graphical swing high, -61.8% Fibonacci retracement and 1st resistance could be possible.
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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.