Nikkei dropped lower and is fast approaching a key Fibonacci retracement level where we could see a short term intraday bounce above our Pivot towards 23.6% Fibonacci retracement and 1st Resistance level. Stochastic is testing support where price bounced in the past as well.
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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.