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Nikkei 225 Wave Analysis – 16 March, 2019

  • Nikkei 225 falling inside impulse sequence ⑤
  • Likely to fall to 16000.00

Nikkei 225 has been falling sharply in the last few trading sessions after the index broke below the powerful long-term support level 19000.00 (which started the extended multi-year uptrend back in 2018).

The breakout of the support level 19000.00 accelerated the active sharp downward impulse sequence ⑤.

Nikkei 225 is likely to fall further toward the next support level 16000.00 (former strong support from the end of 2016).

Nikkei 225 is likely to fall further toward the next support level 16000


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