Thursday, 26 June 2014

Nikkei testing long term trend line resistance & short term trend line support

The Nikkei is again testing long term trend line resistance, following a brief false break higher toward the end of last year. Long term in this case means more than twenty years old.

Zooming in to better illustrate the trend line test.

Daily chart shows the Nikkei testing trend line support, and the Fibo 61.8% retracement of the early 2014 decline.