Stock index NIKKEI 225 continue to move in the framework of the decline. At the time of the publication of the forecast, the exchange index rate is 20,922. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to grow and test the resistance level near the area of 21035. Where should we expect a rebound and the continuation of the fall of the NIKKEI 225 quotes to the area below the level of 20275.
NIKKEI 225 Forecast and Analysis May 31, 2019
A test of the trend line on the relative strength index (RSI) will be in favor of a fall in the stock index quotes. The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the fall in the index quotations will be a strong growth and a breakdown of the 21450 area. This will indicate a breakdown of the upper boundary of the channel and continued growth of NIKKEI 225 with a target above 21850. Expect the acceleration of the fall in quotes NIKKEI 225 stands with the breakdown of the support area and closing below 20585.
NIKKEI 225 Forecast and Analysis May 31, 2019 implies an attempt to test the lower boundary of the ascending channel near the 21035 region. Then, continued growth with a potential target above the level of 20275. The trend line test on the relative strength index (RSI) will be in favor of raising the quotes. The cancellation of the growth option will be the breakdown of the area 21450. This will indicate a continuation of falling into the area below 21850.