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
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
