The Nikkei initially fell during the course of the week, but found enough support at the 16,000 level to turn things back around and form a hammer. The
The Nikkei initially fell during the course of the week, but found enough support at the 16,000 level to turn things back around and form a hammer. The hammer of course is a very bullish sign, so a break above the top the hammer should send that longer-term traders into a long position as the market is trying to get its footing again. We’ve had one vicious selloff after another in various stock markets around the world, but on Friday we find ourselves looking at hammers around the world. Because of this, the next couple of weeks could be good for stocks markets in general.
Nikkei forecast for the week of January 25, 2016, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
