NIKKEI 225 (NKY) Heads Up For the 2nd Day In A Row, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

NIKKEI 225 Daily Price Recap

NIKKEI 225 closed the day prior up 0.48% ($96.26); this denotes the 2nd day in a row an upward move has occurred. Relative to other instruments in the 8 major global equity indices asset class, NIKKEI 225 ranked 7th since the day prior in terms of percentage price change. Below is a daily price chart of NIKKEI 225.

NIKKEI 225 Technical Analysis

The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Traders will also want to note, though, that a counter trend — meaning a trend going up — can be seen on the 30 and 14 day timeframes. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to sell rallies. For another vantage point, consider that NIKKEI 225’s price has gone up 15 of the previous 30 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

Over on Twitter, here were the top tweets about NIKKEI 225:

  • From RANsquawk:

    Asia-Pac bourses begin with mild gains as US equity futures continue recovery with participants digesting Japanese GDP and comments from Fed Chair Powell who suggested further action may be required from both the Fed & Congress; ASX 200 (+0.7%), Nikkei 225 (+0.1%), KOSPI (+0.1%)

  • From Xs2Chelton:

    At the close in Tokyo, the #Nikkei 225 gained 0.48%.

  • From forexsho:

    GOLD is closed.NIKKEI 225 is long.Going to 21,000.