Nikkei approaching support, potential bounce!

15 Okt 2018

Nikkei is approaching our first support at 22205 (horizontal swing low support, 78.6% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce might occur above this level pushing price up to our first resistance at 23066 (horizontal swing high resistance, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.