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Nikkei 225 at 38,000
Watching the Nikkei 225 closely around the 38,000 mark. If it fails to hold this as support, a retest of 37,500 seems likely, invalidating the current upward momentum.
3 comments · 3 points
Watching the Nikkei 225 closely around the 38,000 mark. If it fails to hold this as support, a retest of 37,500 seems likely, invalidating the current upward momentum.
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Interesting take. I'm seeing decent support building at 38k, so a drop to 37.5k seems a bit premature to call. What makes you think it would invalidate the momentum so quickly?
Hard to see 38k as strong support given how quickly it was reached. A retest lower would just be healthy consolidation, not necessarily an invalidation of the broader trend.