Nikkei 225 Technical Analysis
The Nikkei 225 initially fell during trading on Tuesday but has turned around to show signs of strength and resiliency. Because of this, I think you have a situation where traders are going to continue to buy the dip, especially as the interest rate situation in Japan should remain very dovish and, of course, the Bank of Japan doesn’t have to worry about inflation as much as people had worried about.
The 64,000-yen level for me is still the floor. We’re quite a way from there, so I think we will continue to buy dips, and I think Nikkei continues to be a performer here.
Hang Seng 50 Technical Analysis
The Hang Seng 50 in Hong Kong just took off overnight as tech stocks have really led the charge higher, with a massive gain for the day being clocked. And as I look at this, it’s just shy of 3%.
Interest rates in the United States dropping help because the Hong Kong Monetary Authority, of course, mirrors the monetary policy of the Federal Reserve. So that certainly helps. I think short-term traders will continue to look at this as a buy on the dip opportunity. If we can break above the 26,250 level, then we might be able to go all the way up toward 27,000.
ASX 200 Technical Analysis
Nikkei Price Forecast
Every new Nikkei analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all Nikkei forecastsThe ASX 200 in Australia has had a good day on Tuesday, as we have seen quite a bit of actually negative numbers coming out of Australia. Now, granted, they weren’t major numbers, but they do suggest that perhaps the Aussie economy is starting to slow down a little bit. With commodities still looking healthy, that means the RBA may stay a little bit more dovish than people had anticipated.
We are in the middle of a little bit of a bottoming pattern here. So, we’ll see, can we get over the 8,800 level, because if we can, then the market could go looking towards… Short-term pullbacks should continue to be buying opportunities.
If you’d like to know more about technical analysis and how traders use it, please visit our educational area.
