The stock index NIKKEI 225 completes the trading week near the level of 23582. The index is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates an uptrend. As part of the NIKKEI 225 weekly forecast & analysis October 8 — 12, 2018 is expected to test the area of the Ichimoku Kinko Hyo signal lines near the level of 23430, from which we can expect an attempt to rebound the stock index quotes and continue growth with the aim of lifting near the level of 25040.
NIKKEI 225 weekly forecast & analysis October 8 — 12, 2018
An additional signal in favor of the growth of quotations of the stock index in the current trading week of 8 — 12, 2018 will be the test of the support level, as well as a rebound from the lower border of the bullish channel. Previously, a strong signal was received for buy of the NIKKEI 225 stock index, due to the crossing of signal lines at the level of 22350.
Cancellation of the growth of quotations of the stock index will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotations below area 22200, which will indicate a change in the upward trend in favor of a downward trend and continued decline. Expect to accelerate the growth of quotations of the stock index NIKKEI 225 stands with the breakdown of the resistance area and closing above the level of 24500.
NIKKEI 225 weekly forecast & analysis October 8 — 12, 2018 implies an attempt to test the support level near the 23430 area, from which we should expect a rebound and a continuation of the fall in the index quotes with a potential target near the level of 25040.