The stock index NIKKEI 225 completes the trading week near the level of 21222. The index is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates an uptrend. As part of the NIKKEI 225 weekly forecast October 29 — November 2, 2018, is expected to test the area of the Ichimoku Kinko Hyo signal lines near the 21900 level, from which we can expect an attempt to rebound the stock index quotes and continue falling to the target near the 20150 level.
NIKKEI 225 weekly forecast October 29 — November 2, 2018
An additional signal in favor of the fall of stock index quotations in the current trading week October 29 — November 2, 2018 will be the test of resistance level. Previously, a weak signal was received for SELL of the NIKKEI 225 stock index, due to the crossing of signal lines at the level of 23,245.
Cancellation of the fall in quotations of the stock index will be a breakdown of the upper limit of the Ichimoku Kinko Hyo Cloud with the closing of quotations above 23250, indicating a change in the downward trend in favor of the upward and continued growth. Expect to accelerate the fall in quotations of the stock index NIKKEI 225 stands with the breakdown of the support area and closing below the level of 24500.
NIKKEI 225 weekly forecast October 29 — November 2, 2018 involves an attempt to test the resistance level near 21900, expect a rebound and a continuation of the fall in the index quotations with a potential target near the level of 20150, strong growth and the breakdown of the 23250 that would indicate continued growth in the NIKKEI 225 rate.